Tag: central bank demand

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Gold Breaks $2,500 per Ounce, Reaching Historic Highs Powered by Fed’s Decision and Geopolitical Risks

August 2, 2024

Gold prices reached historic highs on August 1, breaking the $2,500 mark on the New York Comex exchange. The precious metal reached a price of $2,502.6 for the first time in its history, influenced by the U.S. Federal Reserve’s decision to leave interest rates unchanged, geopolitical risks, and the constant demand from central banks. Gold…
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UBS Raises Gold Price Forecast Amid Rising Central Bank Demand and Geopolitical Tensions

May 26, 2024

UBS has raised its gold price forecast following a record surge in gold prices, driven by anticipated Federal Reserve rate cuts and a weakening U.S. dollar. The main factors behind the investment bank’s upgraded gold price prediction include softer U.S. economic data, increased central bank demand, and ongoing geopolitical uncertainties. UBS Revises Gold Price Prediction…
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