UBS predicts that gold prices will rise to $3,500 this year

UBS Investment Bank precious metals strategist Joni Teves stated that the bank has adjusted its gold price forecast, expecting gold prices to rise to $3,500 this year. In the current environment of escalating tariff uncertainties, slowing economic growth, rising inflation, and ongoing geopolitical risks, the rationale for allocating assets to gold is stronger than ever. Global trade, economic, and geopolitical relationships are changing, further highlighting the importance of capital shifting towards safe-haven assets like gold. UBS expects the upward trend in gold prices to continue into next year and stabilize at higher levels in the future