UBS backs de-dollarization trend, lifts gold target to $5,400 an ounce - investingLive
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UBS backs de-dollarization trend, lifts gold target to $5,400 an ounce investingLive
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4 itemsUBS backs de-dollarization trend, lifts gold target to $5,400 an ounce - investingLive
UBS backs de-dollarization trend, lifts gold target to $5,400 an ounce
UBS is adopting a long-term view on dollar weakness, indicating a structural trend rather than a fleeting concern. This outlook suggests persistent inflows into gold and selected currencies, driven by factors such as central bank reserve diversification, highlighted by notable gold purchases from the People's Bank of China. The desk views this as a call to not just react to price movements but build a position in a de-dollarizing environment, expecting gold prices to surge to $5,400 an ounce over the next year due to sustained demand. Per the full note [source], while there's potential near-term support for the dollar from geopolitical tensions and rising oil prices, UBS emphasizes that the medium-term trajectory is one of depreciation fueled by U.S. fiscal challenges and policy uncertainty.
UBS raises gold price target to $6,200/oz - Reuters
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