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<Commodity> UBS: Gold Prices May Hit New High This Year; Pullback to USD4,000 Seen as Buying Opportunity
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UBS Investment Bank maintains a positive view on gold and expects prices to reach new highs this year. Joni Teves, Precious Metals Strategist at UBS Investment Bank, said that over the medium to long term, the likelihood of gold prices rising further and even exceeding the banks base-case forecast is increasing. The core drivers supporting gold remain unchanged, including sustained growth in demand from both private and official sectors, underpinning the overall upward trend. Golds role as a core allocation within investment portfolios is also strengthening. Amid heightened macro uncertainty, the trend of diversifying assets into gold continues to be strongly supported. In the near term, any correction in gold prices would instead provide positioning opportunities. The bank believes the market remains underallocated to gold. If prices retreat to test the psychological level of USD4,000 per ounce, it could be viewed as a favorable opportunity to accumulate on dips. (su/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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