Gold Price Forecast: Near-term consolidation in XAU/USD should reverse on solid demand – UBS Gold XAUUSD InterestRate UnitedStates Banks
Gold fell below $1,950 last week amid progress on the US debt ceiling deal and a repricing of US rate hike expectations. But Gold’s role as an effective long-term hedge makes the yellow metal valuable in a portfolio context.
With solid central bank demand, renewed US Dollar weakness, and rising US recession risks, we continue to believe that Gold is on track to break its all-time high later this year and hit $2,250 by June 2024.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.
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