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UBS: Gold Price Could Peak at USD3,500 if Trade War & Geopolitical Risks Escalate
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Gold price shattered above USD3,100 per ounce in March. In UBS view, the recent surge in investment demand was influenced by remarks made by the U.S. President Donald Trump, and Elon Musk, as well as disappointing U.S. consumer data. In 1Q25, gold ETFs charted radical inflows estimated between 130 and 150 tons, a stark contrast to the 114-ton outflow in the same period of 2024. UBS maintained its gold price target at USD3,200 per ounce and continued to favor gold in its global and Asian investment strategies. However, if tariff policies or escalating geopolitical risks further blow the U.S. and global economies, gold prices could reach as high as USD3,500 per ounce. In the long term, UBS recommended allocating 5% of a USD-balanced portfolio to gold to achieve optimal diversification. AAStocks Financial News |
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