UBS says gold may retest 4000 USD, with central-bank buying and dip-buying providing support
UBS expects gold may retest per ounce 4000 USD, but strong dip-buying demand and central-bank gold purchases will provide support.
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UBS expects gold may retest per ounce 4000 USD, but strong dip-buying demand and central-bank gold purchases will provide support.
Morgan Stanley’s view is that central-bank gold purchases and gold ETF demand support gold prices staying above 4000 USD and that another rise in yields may not necessarily be bearish for gold.
The Central Bank of Kazakhstan plans to reduce gold’s share of foreign exchange reserves from approximately 2026 by the end of 78%to 75%, with rising U.S. Treasury yields among the factors behind its reassessment of asset allocation.
UBS expects gold prices to 4000 USD find support near and 2027 year September rise to 5400 USD. Gold ETF continues to see inflows, but USD a stronger and rising real interest rates remain short-term pressures.
The report states that gold recently fell below 4300 USD, while TD Securities and BMO still expect it to return above 2027 in 5000 USD. It also cites ETF inflows, central-bank gold purchases, and Chinese import data as demand support.
Bernstein published a research report forecasting that, even if the Federal Reserve continues raising interest rates, driven by central-bank purchases and ETF inflows, gold prices by 2030 could target 5700 USD/ounce.