Deutsche gold is worth $1,700/oz

If gold is viewed as a currency, the yellow metal should be worth $1,700 an ounce according to Deutsche Bank’s Global Commodities Research analysts Michael Hsueh and Grant Sporre. UK Citizens Flock to Gold in the Wake of Brexit The bank’s argument for why gold should trade at this level revolves around the balance sheet expansion of central banks during the past eight years. The aggregate balance sheet of the world’s four main central banks, the European Central Bank, the Federal Reserve, the Bank of Japan and the People’s Bank of China has increased by 300% since the beginning of…