Deutsche Bank forecasts weak outlook for gold

Deutsche Bank last week cut its 2013 gold price forecast, saying returns from the metal may be on course for their worst annual performance since 2000.

"The forces which have propelled gold returns higher over the past decade, namely a weakening U.S. dollar, falling real interest rates and a rising U.S. equity risk premium have all moved into reverse since the end of last year," Deutsche Bank analysts wrote in a note to clients.

Goldman Sachs pessimistic

"Despite resurgence in Euro area risk aversion and disappointing US economic data, gold prices are unchanged over the past month, highlighting how conviction in holding gold is quickly waning," a Goldman analysts wrote in a report.

Societe Generale says “gold is in bubble territory”

Earlier this month, Societe Generale a report said that "gold price is in bubble territory." This prediction was made much ahead of the recent sharp fall in gold prices.

Credit Suisse says gold remains overvalued

Credit Suisse (CS) earlier this month cut its outlook on gold prices for this year and next. "By long-term historical standards gold remains overvalued, both in real terms and relative to other commodities and assets.