Can gold still rise? ubs group: There will be a new high in 2025, but the increase will not be as strong as this year.
UBS Group expects that in the short term, gold prices will mainly consolidate with fluctuations, but diversified demand and risk aversion will continue to support the rise in gold prices. It is expected that the price will hit a historical high in 2025, with a year-end target price of $2900 per ounce, and the upward momentum may slow down compared to this year.
Urgent! The US Embassy in Kyiv warns of a 'potential major air strike.' Be cautious of another surge in gold prices. How to trade gold?
In early European trading on Wednesday, short-term gold prices fell, with the current price trading near $2629 per ounce. Analysts pointed out that gold prices have risen significantly recently, leading some investors to take profits, causing a short-term decline in gold prices. However, if geopolitical tensions escalate again, this could propel gold prices to rise sharply once more.
Breaking news! Ukraine launches a major drone attack. Notable institutions' trade analysis: gold prices are expected to rise by more than $20 again.
In the Wednesday afternoon of Asia, after a significant rise in the spot gold price over the past two trading days, it remains firm, currently around 2632 dollars per ounce. According to Economies.com, the technical aspect of gold continues to be bullish, and the gold price is expected to rise further, with the first target aiming at 2655.00 dollars per ounce.
Putin's approval of the new version of Russia's nuclear deterrence policy has triggered safe-haven demand, with gold rising for two consecutive days and returning above $2600.
Due to the escalation of tensions between Russia and Ukraine, the demand for safe-haven assets has increased, and gold prices have risen for two consecutive days.
Gold Holds Gain as Russia's Nuclear Shift Fans Demand for Havens
Breaking news from the Russia-Ukraine battlefield! Putin makes a major decision, gold price surges by $20. How to trade gold?
24K99 News: On Tuesday (November 19), due to escalating tensions between Russia and Ukraine, funds flowed into safe-haven assets, causing gold prices to rise for the second consecutive trading day, reaching a weekly high.