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Gold overvalued - Deutsche

Published 06/01/2017, 03:19 PM
© Reuters.  Gold overvalued - Deutsche
US500
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HG
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GLD
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DGP
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DZZ
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GLL
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IAU
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SGOL
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UGL
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PHYS
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DGL
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DGZ
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UBG
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UGLDF
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DGLDF
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GEUR
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GYEN
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OUNZ
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GLDI
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GLDW
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  • vial Bloomberg's Susanne Barton
  • At the current $1,270 per ounce, gold is expensive against nearly all other metrics, says the team at Deutsche. The average of those nine metrics - copper, gold, and the S&P 500 among them - suggests fair value of just over $1K for the yellow metal.
  • So what gives? A "heightened perception of risk or uncertainty in the broader markets," says Deutsche. That premium began just over a year ago, and is expected to continue into 2018.
  • Deutsche's cautious, seeing a year-end price of $1,150 per ounce even when factoring in more political and financial uncertainty.
  • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX, GHE, GHS, GLDW
  • Now read: GLD: Still Bullish


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