$4,000 Gold Could Be Wall Street's Next Big Buying Opportunity
4 Articles
4 Articles
$4,000 Gold Could Be Wall Street's Next Big Buying Opportunity
Gold is struggling to regain its footing after retreating from September highs above $4,400 an ounce, as a stronger U.S. dollar, surging Treasury yields and expectations of further Federal Reserve tightening weigh on the precious metal. But while speculative investors have been reducing their exposure, central banks and gold-backed exchange-traded funds continue accumulating bullion, raising an increasingly important question: Is gold entering a…
UBS reported that the price of gold could fall back to $4,000 per ounce due to the strong dollar and rising real bond yields in the US. The bank predicted that long-term investor buying at this level could limit the decline, while emphasizing that recent selling was driven by speculative transactions.
Global financial giant UBS has published a noteworthy assessment of investor interest regarding recent movements and price pressures in the gold market. It revealed its prediction for the price of gold per ounce, influenced by a strong dollar and rising real bond yields in the US.
UBS stated that the price per ounce could fall back to $4,000 due to the strong dollar and rising US real bond yields. However, according to the bank, this level is a region where the decline could be limited by purchases from long-term investors. While speculative transactions dominated the recent sell-off, it is noteworthy that interest in gold funds remains strong.
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