#XAUUSD @ 1,969.15 Gold Price Forecast: could reach end-March 2024 target of $2,100 earlier than expected – UBS
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Gold looks set to benefit from its safe-haven appeal in more uncertain markets, according to economists at UBS.
“Gold has already been gaining due to the recent market volatility. The spot price broke above $2,000 an ounce to hit a 12-month high. Meanwhile, Gold exchange traded funds look set to post net inflows in March for the first time in almost a year.”
“Given recent events, we think there’s a chance that Gold prices will reach our end-March 2024 target of $2,100 earlier than expected. While a repeat of the global financial crisis appears to have been averted, we think it will take time for investor confidence to be fully restored.”
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