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UBS

2 months ago

UBS Forecasts Gold Prices to Reach $2,200 per Ounce by 2024 on Expected Interest Rate Cuts

Benzinga
Benzinga
UBS forecasts gold prices will hit $2,200 per ounce by the end of 2024 as the Fed is expected to start cutting interest rates. Lower rates make gold more appealing versus bonds and weaken the dollar, boosting international demand. Geopolitical risks and macro uncertainty are also increasing safe-haven demand for gold. Analysts predict that silver is set for a "dramatic" outperformance on expectations of stronger economic growth fueling industrial demand. Silver has significantly underperformed gold in recent years but may catch up as conditions improve.
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