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Loracle Bets $23 Million on Gold as Deutsche Bank Eyes $4,700 Target
['Maheen Hernandez']
The Currency analytics
AdvertisementDeutsche Bank’s $4,700 CallThe platform currently shows $3.59 billion in open bets across its markets.
As of Monday, gold futures were trading near $4,093, which means the Deutsche Bank target sits roughly $600 above current market prices.
One thing that probably shapes the Deutsche Bank view: central banks have been buying gold at a record pace.
Whether the Deutsche Bank target of $4,700 plays out or the World Gold Council’s more cautious $4,100 range holds, Loracle’s already in the trade.
Frequently Asked Questions What is Deutsche Bank’s gold price target for year-end?