Gold prices to hit $2,200 and a 'dramatic' outperformance awaits silver in 2024, says UBS
Publishing timestamp: 2024-02-04 20:21:27
Summary
UBS forecasts that gold and silver will continue to climb in 2024 due to expectations of interest rate cuts by the U.S. Federal Reserve. The bank's precious metals strategist expects gold to hit $2200 per ounce by the end of the year. The appeal of gold as a safe haven asset has increased due to geopolitical risks, and silver is also expected to perform well when the Fed eases.
Sentiment: POSITIVE
Tickers: XAU=, @SI.1, UBSG-CH,
Keywords: business news, breaking news: markets, ubs group ag, breaking news: investing, markets, investment strategy, gold / us dollar spot, united states, silver comex (mar'23), commodity markets,