UBS Sees Price Soaring to $2,500 Amid Economic Turbulence

UBS strategists forecast a bullish future for gold, projecting a rise to $2,500 per ounce by the end of 2024. This optimistic outlook follows a 13% increase in gold prices this year, fueled by geopolitical tensions and renewed inflation concerns influencing Federal Reserve’s rate decisions. The anticipation of gold ETF buyers entering the market in response to expected Federal Reserve rate cuts adds to the momentum. UBS expects these developments to propel gold to $2,300 per ounce by June, setting the stage for further gains.

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