One of Germany’s largest financial institutions, Deutsche Bank, has increased its forecast for the gold price. According to the bank, the cost of one ounce is expected to reach $4,000 by 2026.

It is worth noting that this forecast was previously set at $3,700. As the financial institution notes, the reason for such expectations is the increased demand for gold from the central bank, the potential weakening of the dollar, and a possible reduction in the refinancing rate by the Federal Reserve.

It is worth noting that since the beginning of the year, the price of one ounce of gold has already increased by 40% and reached a record high of $3,702. However, the bank also names several reasons that could potentially slow down the price growth. One of them is the strengthening of the positions of stock exchanges. As well as uncertainty related to the US economic situation and the seasonal softening of gold prices in the fourth quarter.