Published on 9 Apr 2024 on Zacks via Yahoo Finance
Gold About to Hit $2,500? ETFs to Play
Gold prices surged to a new record high on Monday, as UBS boosted its forecasts in anticipation of increased retail buying, as quoted on Morningstar. UBS analysts, led by strategist Giovanni Staunovo, adjusted their gold forecasts. They boosted their June forecast to $2,300 an ounce, surpassing the target, and lifted the year-end and end-March 2025 forecasts to $2,500 an ounce. Gold is currently hovering around a level of $2,358.40.
Citi Analysts Also Bullish
Citi analysts also raised their gold price targets, projecting a potential rise to $2,400/oz in the short term and foreseeing a bull-case scenario of $2,500/oz for the second half of 2024, per the above-mentioned article.