Gold Price Forecast: UBS Boosts Target to $3000 Amidst Global Uncertainty ...Middle East

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Gold Price Forecast: UBS Boosts Target to $3000 Amidst Global Uncertainty
source : forex live ( Middle East ) () 45

Via a note from UBS (the bank's Wealth Management area) on their outlook for gold.

Analysts at the bank say that the price is above their long-term forecast of US$2850 and is above their estimate of fair valueAnd add that gold is showing its worth as a store of value and a hedge against uncertaintyThey have boosted their forecast to US$3000 over the next 12 months

In brief on reasoning:

    If they happen, US tariffs on Canada & Mexico are unlikely to last long.See a gradual increase in US tariffs on China to 30%.Gold will continue to be supported by uncertainty, global rate cuts, and investor demand. This article was written by Eamonn Sheridan at www.forexlive.com.

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