Gold price forecast upped to $1800 by end-2020 – UBS

Dhwani Mehta FXStreet

The analysts at UBS have raised their year-end gold price forecast to $1800 vs. $1700 estimated before.

Key quotes

“For 2021 end-June forecast is kept at $1,800.”

“In the shorter time horizon, it sees a number of uncertainties that'll help elevate the price.”

"We're reiterating gold's qualities as a hedge to 2H risks such as the US election, US-China tensions, and coronavirus concerns, and what all three could portend for central bank actions, while also reflecting our view that growth will recover into 2021."

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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