UBS says spot gold may reach USD 6,200/oz in the near future as the factors fuelling its recent rally remain intact
Newsquawk Staff ·
UBS says spot gold may reach USD 6,200/oz in the near future as the factors fuelling its recent rally remain intact.
What it means
UBS's prognosis of gold potentially reaching USD 6,200/oz highlights a strong bullish sentiment, driven by persistent factors behind its recent rally, such as inflation concerns and geopolitical tensions. This forecast could reinforce demand for gold as a safe haven, influencing not just gold prices but also the broader commodities market and potentially impacting related currencies like the USD and EUR.
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