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UBS Raises Gold Forecast for This Yr With Peak at USD6.2K/ Ounce
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Gold demand in 2025 exceeded 5,000 metric tons for the first time, mainly due to strong investment activities, UBS quoted the latest report from the World Gold Council. Gold ETF holdings increased by 801 metric tons, and the purchase of gold bars and coins reached a 12-year high of nearly 1,375 metric tons. Central banks purchased 863 metric tons, slightly below expectations and lower than the records set in previous years, but still strong from a historical perspective. UBS remains optimistic about gold's "attractive" qualities and its hedging role in investment portfolios. It has raised the target price for March, June, and September 2026 from USD5,000 to USD6,200 per ounce. It also expects a slight decline to USD5,900 per ounce by the end of 2026 after the US midterm elections. AAStocks Financial News |
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