Deutsche Bank: Gold futures hit a record high due to market uncertainty and ETF inflows

Due to significant market uncertainty, gold futures prices have reached a new high. Futures prices rose by 1.8% to $3,233.80 per ounce, having previously surged to $3,255.90 per ounce during the day. Analysts at Deutsche Bank stated in a report that gold prices seem to be strongly supported given the market turmoil caused by U.S. tariff policies. The German bank raised its year-end price forecast for spot gold from $2,850 per ounce to $3,000 per ounce. Gold ETFs saw strong capital inflows in March, reaching 92 tons, bringing first-quarter inflows to a three-year high of 226 tons. U.S.-listed ETFs recorded the largest capital inflows, while European and Asian ETFs also experienced inflows