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UBS reduces gold forecast as Fed rate hike bets grow
UBS Bank has lowered its gold price forecasts by between $300 and $900 per ounce, citing strong American economic data and the Federal Reserve delaying its easing program until 2027. The bank noted that gold is under pressure due to expectations of interest rate hikes and market behavior, with short-term prices expected to fluctuate between $3,850 and $4,000 per ounce. However, it remains optimistic about the coming months, anticipating a potential rate cuts by the Fed and increased demand from central banks.
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