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UBS cuts gold outlook as Fed hike anticipated
UBS Bank has lowered its gold price forecasts by between $300 and $900 per ounce, due to strong American data on the labor market and the postponement of the Federal Reserve's easing program until 2027. The report indicated that gold futures could fluctuate between $3,850 and $4,000 per ounce in the short term, with limited response to tensions between the United States and Iran, and expectations of further increases in real yields and the dollar. Despite these temporary cuts, the bank remains optimistic about the outlook for gold in the coming year, anticipating lower U.S. interest rates and improved demand from central banks.
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