Nervous investors seeking shelter in gold may be inflating the metal. Fair value for bullion is $1,015 an ounce, or about 20 percent below the metal’s recent trading range, based on an average of nine metrics including historical relationships to the S&P 500 Index and the prices of copper and oil, Deutsche Bank AG said in a report June 1.
The current gold price suggests “there is a heightened perception of risk or uncertainty in the broader markets,” the bank said.
Source: Bloomberg Pro Terminal
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