Gold Price Forecast: More constrained outlook for XAU/USD – UBS
|Gold has lost $100 an ounce to $1,820, its lowest level since March. Economists at UBS analyze the yellow metal’s outlook.
Near-term risks to Gold remain
Uncertainty over where US yields and the Dollar will peak are a headwind for Gold in the near term. The metal typically comes under pressure when risk-free rates rise and when the US currency strengthens, which raises the price for non-dollar investors and suppresses demand.
With opportunity costs for Gold on the rise, we now also see a more constrained outlook for Gold, with the metal ending the year around $1,850 from $1,950 previously, and rising to $1,950 by the end of June 2024 down from $2,100 previously.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.