GO
| HSI1 | 22,671.86 | -405.05 | 342.10B |
| HSCEI1 | 7,460.84 | -147.54 | 100.47B |
| Back Zoom + Zoom - Block Traded | |
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2026-06-24 11:06:58 Gold’s momentum has waned in recent weeks owing to strong US economic data, rising real yields, a stronger US dollar, and hawkish signals released by the Federal Reserve last week, dampening its safe-haven appeal, UBS Global Wealth Management Chief Investment Office said in a research report. Based on changes in short-term risk-reward characteristics, UBS adjusted its rating on gold within global portfolios to Neutral and lowered its year-end target price to USD4,600 per ounce. It forecast gold prices to remain range-bound in the near term, but emphasized that the medium- to long-term investment rationale remained intact. Should gold prices sink below USD4,000 per ounce, it would represent an optimal buying opportunity. The Office added that over the long term, trends in global reserve asset diversification, ongoing efforts by countries to reduce reliance on the US dollar, and sustained market attention on rising fiscal deficits and debt levels are expected to provide strong structural support for gold. As such, gold remains an effective diversification tool, and investors are advised to maintain an appropriate allocation in balanced portfolios, with a mid-single-digit percentage (around 5%) exposure to gold assets. ~ AASTOCKS Financial News Website: www.aastocks.com | |