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UBS Group AG has raised its gold price forecast to $3,200 per ounce for the next four quarters, up from its previous target of $3,000, citing increasing risks of a prolonged global trade war under President Trump’s policies.
Gold, which recently surpassed $3,000 per ounce for the first time, is expected to benefit from growing recession concerns and anticipated Federal Reserve rate cuts.
UBS joins other major banks like Macquarie Group and BNP Paribas in raising gold price targets, with strong central bank purchases and increasing ETF inflows providing additional support for higher prices.
