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- Gold Price Forecast: XAU/USD to soar on a regional escalation of the Middle East conflict – UBS
Gold Price Forecast: XAU/USD to soar on a regional escalation of the Middle East conflict – UBS
Gold should remain a good hedge, despite worries that rates will remain higher for longer, economists at UBS report.
Gold has proven its worth as a diversifier again
The price of the metal has climbed by about 9% since the Hamas attack on Israel and a regional escalation of the conflict would likely boost Gold further.
While we believe that safe-haven flows would eventually reverse, Gold has proven its worth as a diversifier again. In addition, we ultimately see support for Gold as the slowing US economy allows Fed officials to move toward monetary easing – which would likely lead to lower yields and a lower opportunity cost of holding the non-interest-bearing metal.
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