Deutsche Bank Backs Gold to Top $4,800 as Treasury Doubles Buybacks to $4 Billion
Updated
Updated · CNBC · Aug 24
Deutsche Bank Backs Gold to Top $4,800 as Treasury Doubles Buybacks to $4 Billion
3 articles · Updated · CNBC · Aug 24
Summary
$4,800 an ounce is Deutsche Bank's new gold target after the Treasury said it would raise maximum bond buyback operations to at least $4 billion from $2 billion.
Michael Hsueh said the policy shift strengthens the bullish case for hard assets, warning Treasury intervention and Scott Bessent's "big toolkit" could drive further support for gold.
Gold rose more than 1% on Monday after jumping over 5% last week, its fifth straight weekly gain, as investors reacted to Treasury-market volatility tied to the buyback announcement.
Nearly $1 trillion in the Treasury General Account could help fund the plan, two senior Treasury officials told CNBC, adding to concerns about debt management and market distortion.
Broader support for bullion is building after its biggest annual gain since 1979 in 2025, with Ray Dalio on Friday urging investors to keep 10% to 15% of portfolios in gold.