UBS analysts remain optimistic about gold, forecasting its price to reach $2,800 by the end of 2024 and $3,000 by 2025. This outlook is driven by broad demand, low selling pressure, and key macroeconomic factors such as global monetary easing, declining interest rates, and a weakening U.S. dollar.
Geopolitical tensions and the U.S. elections are also supporting gold’s safe-haven appeal. Central banks are expected to continue increasing gold reserves, while consumer demand remains steady in key markets like China and India, despite rising prices.
Gold’s rally is not over yet says UBS
Oct 09, 2024
Article from Investing.com by Navamya Acharya
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