Reported 2 days ago
UBS has increased its gold price forecast to $3,200 per ounce, reflecting rising concerns over a prolonged global trade conflict that is prompting investors to seek safe-haven assets. The bank cited the impact of potential tariffs from the U.S. and a deteriorating economic outlook, leading to expectations of further interest rate cuts by the Federal Reserve. This aligns with similar adjustments from other financial institutions, indicating robust demand for gold and gold-backed investment vehicles.
Source: YAHOO