UBS says gold may retest 4000 USD, with central-bank buying and dip-buying providing support
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UBS believes gold may retest per ounce 4000 USD, with dip-buying and central-bank gold purchases potentially providing support.
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⚡️UBS: Gold may retest 4000 USD the level, with strong dip-buying demand providing support
BlockBeats news,October 23, UBS believes that gold prices may retest per ounce 4000 USD, but expects strong dip-buying demand to support gold prices and establish a price floor.
Although rising US Treasury real yields and USD strengthening are weighing on gold prices, factors such as continued gold purchases by central banks will support gold. UBS expects annual gold purchases by central banks to reach 750 to 1000 tons.
Original link https://m.theblockbeats.info/flash/373417
Key points
01
UBS believes that gold prices may retest per ounce 4000 USD。
02
UBS expects strong dip-buying demand to support gold prices and establish a price floor.
03
Rising US Treasury real yields and USD strengthening are weighing on gold prices.
04
Factors such as continued gold purchases by central banks will support gold.
05
UBS expects annual gold purchases by central banks to reach 750 to 1000 tons.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is an institutional assessment: gold may still decline to per ounce 4000 USD, but UBS believes that buying demand emerging after a price decline, along with central-bank gold purchases, may slow the decline. Meanwhile, rising US Treasury real yields and USD strengthening will continue to pressure gold prices.
Why it matters to readers
The view identifies both downside pressure on gold and potential support, and can be used to observe price action near per ounce 4000 USD, dip-buying demand, and central-bank gold purchases.
Beginners should view this as UBS's forecast for future gold prices, rather than as a fact that gold has already reached 4000 USD or will necessarily stop falling at that price level.
Risks and unknowns
Whether gold will retest or hold per ounce 4000 USD has not been confirmed.
Whether dip-buying demand can establish a price floor has not been confirmed.
Whether annual central-bank gold purchases will reach 750 to 1000 tons has not been confirmed.
The report is BlockBeats' paraphrase of UBS's view; the evidence does not provide the content of UBS's original report.
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