DB Raises Price Target to $3,350 on "Risks to USD Reserve Status"

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Key Moments (audio quality dips at points)

• 2:35- Market Rundown
• 6:45- Title story
• 16:02- Chart comment

DB Gets Back Into Gold, Raises Target to $3,350

 In addition to the Central Bank demand analysis in their report, the following are of special note:

• The Bank discusses dedollarization not just as an obvious trend, but as a permanent one.
• Special observations are made of the under-reported Gold demand by central banks. What is being stated is not the whole of what is being bought.
• DB also discusses “old gold” correlations like its beta to the USD— stating they still exist, but have “flipped their sign” away from being used as reasons to sell gold into powerful catalysts to buy it now.
• ETF demand is also cited as a new and increasingly important reason for Gold’s buoyancy with special (new) attention paid to China’s growing ETF demand (quadrupling this past period).
• Deutsche Bank is getting back into the metals market. In the bigger picture, Deutsche Bank risk analysis represents the German government risk. That implies a new bias to the buy side now.

Full Analysis in: DB Raises Price Target to $3,350 on "Risks to USD Reserve Status" 

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