Original article by Stephen Cauchi
The Australian Financial Review – Page: 25 : 28-Jul-15

Gold was trading at about $US1,096 per ounce on 27 July 2015, although Deutsche Bank believes that the precious metal remains significantly overvalued. The investment bank has released a report which concludes that "fair value" for gold is around $US785 an ounce. However, the report also states that in real terms the gold price would have to fall to around $US750/ounce in order to be trading at its historical average.

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DEUTSCHE BANK AG, ABN AMRO BANK NV, UNITED STATES. FEDERAL RESERVE BOARD, CAPITAL ECONOMICS LIMITED, WORLD BANK