UBS sees a 10% spike for gold this year as rate cut speculation swirls
Publishing timestamp: 2024-01-22 09:01:56
Summary
The article discusses the recent slip in gold prices but highlights that UBS believes the power of the Federal Reserve's policy pivot should not be underestimated. UBS strategists forecast that gold prices could close the year as much as 10% above current levels due to potential interest rate cuts. Scotiabank analysts have revised their price guidance higher but maintain a cautious outlook. Factors such as geopolitical instability, market uncertainty, and interest rates can impact gold prices. The article also mentions upcoming economic releases and monetary policy meetings that investors are monitoring. Central banks have been major buyers of gold, and UBS believes ongoing macro and geopolitical risks justify holding exposure to gold for hedging and diversification purposes.
Sentiment: MIXED
Tickers: XAU=,
Keywords: breaking news: markets, gold / us dollar spot, business news, markets,