Woofun AI reports that Deutsche Bank analyst Michael Hsueh lowered the Q3 gold price forecast by over 20% to $4,300 per ounce, while reducing the Q4 projection by 17% to $4,800 per ounce.

Hsueh stated that "potential investors who typically might provide support are notably absent," attributing the downward revision to weak exchange-traded fund demand and diminished purchasing appetite in certain countries.