UBS Issues Stark Warning: Gold Prices Primed for 20% Surge Despite Recent Dip
UBS has issued a sharp warning to investors, predicting gold prices are on track for a dramatic 20% surge, even as the precious metal faces a near-term correction. The bank's analysts note that despite a 4% weekly decline amid Middle East tensions, the current price grind is temporary and a sharp spike—mirroring the recent explosive rally in energy stocks—is materializing. This forecast comes as traditional safe-haven assets show volatility, contrasting with a 10% weekly surge in leading cryptocurrencies like Bitcoin.
UBS: 20% Rise Will Push Gold Prices Towards $6,200
UBS wrote that gold prices first spiked 15% after the Russia-Ukraine war broke out. The glittery metal rarely headed south since then, as it hit new highs every month.
The investment bank predicts that gold prices could reach a high of $6,200 next.they said.
