Deutsche Bank AG reduces its gold-price forecasts by as much as 22%, according to coverage from Bloomberg and the Financial Post. The bank’s downward revision reflects a shift in market expectations around US monetary policy and the resulting impact on demand for gold as an investment. Both reports say investors are growing more cautious about the outlook for US policy, which can influence gold prices through interest-rate expectations and the opportunity cost of holding non-yielding assets. The outlets also note that the forecast cuts come as investment demand for gold appears to cool, contributing to a less bullish near- to medium-term outlook. While the articles do not detail the specific forecast numbers or timelines, they agree on the magnitude of the revision and the main drivers cited by Deutsche Bank. Overall, the change indicates Deutsche Bank expects weaker gold performance than it previously projected, tied to macroeconomic and portfolio-allocation factors linked to US monetary conditions.