UBS: Gold falls to $4,000 offers buy chance
UBS Bank expects the gold price to retest support levels near $4,000 per ounce in the near term, as buyers' interest is likely to increase at this level. Despite rising real yields in the United States and a strong dollar, which increase the cost of holding the yellow metal, persistent structural demand from central banks, concerns over sovereign debt, and demand from China and India bolster gold's resilience. The bank forecasts that the gold price could reach record levels of up to $4,600 by December and $5,400 by the end of 2027, recommending investors take advantage of price pullbacks to increase their holdings.
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