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