UBS Sees Gold Testing $4,000 Again as Central Bank Buying May Support Prices

UBS sees gold as potentially revisiting $4,000 an ounce, with dip-buying and central-bank demand expected to help establish a floor even as higher U.S. Treasury real yields and a firmer dollar pressure prices. The bank projects annual central-bank gold purchases of 750 to 1,000 metric tons. Buyers stepping in when prices fall are also expected to support the market. Rising real yields and a stronger dollar remain pressures on gold, while continued central-bank buying and dip-buying demand are expected to provide support. Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

Source: TokenPost