KEY POINTS
- Gold prices could rise even further and remain high “for longer than expected” as global uncertainties persist, said Yeoh Choo Guan, head of Asean global markets at Swiss banking giant UBS.
- Spot gold is trading at around $1,950 on Friday — roughly 28.5% higher than where it started the year at.
- Yeoh said the bank has raised its gold price forecrfedvgff ghbeast for next year from $1,850 to $2,100 per ounce.
https://www.cnbc.com/video/2020/09/18/bullish-on-southeast-asian-markets-since-march-ubs.html
SINGAPORE — Gold prices — which surged nearly 30% this year — could rise further and remain high as global uncertainties persist, according to Swiss banking giant UBS.
She said the bank has raised its forecast for gold next year from $1,850 to $2,100 per ounce. Spot gold was trading at around $1,953 on Friday — roughly 29% higher than where it was at the start of the year.