SSRM - Gold Price Forecast Soars To $2800 By 2025 On Market Shift: Analysts | Benzinga
UBS has once again adjusted its price target for gold, forecasting a bullish trend in the coming years. The bank anticipates gold to reach $2,800 per ounce by the end of 2025, driven by macroeconomic uncertainty, geopolitical risks, and increased allocations to gold. This update comes ahead of the Bank of Canada's June meeting, which is expected to announce a rate cut almost a year after its last interest rate change.
“We have made significant changes to our price forecast based on the view that there is a structural shift underway in the market,” UBS analysts noted, according to the Market Index report. “We have seen strong official sector gold purchases and resilient physical demand, effectively creating a level shift higher in gold’s trading range.”
UBS has highlighted several key drivers for the anticipated rise in gold prices. These include softer U.S. economic data and continued geopolitical uncertainties. The bank’s analysis points to weaker economic indicators ...