UBS expects significant rise in gold prices
UBS anticipates a significant increase in gold prices due to the impact of global trade tensions. Other major banks have similarly updated their forecasts.
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UBS, one of Switzerland's leading banks, has revised its gold price forecasts upward as global trade wars intensify. Bank analysts stated that gold will be increasingly preferred as a safe haven during periods of uncertainty.
NEW TARGET FOR GOLD: $3,200
UBS officials announced that they have raised their previous forecasts, stating, "We expect gold to trade at $3,200 per ounce over the next four quarters." It was noted that rising geopolitical risks will increase the demand for gold.
Similarly, Macquarie Group predicts that prices will rise further in the second quarter, while BNP Paribas has also revised its expectations for gold prices upward.