The gold price has fallen away to open the week here in Asia, to lows circa USD2690. Down from a three-week high.
On Friday UBS sent out a note confirming their US$2,900 target for gold by year-end 2025.
Analysts cite:
- gold the “preferred hedge against geopolitical tensions” (UBS cite Russia’s launch of an experimental hypersonic missile at Ukraine … Zelenskiy called it ‘a clear and severe escalation’)
- think USD strength has limits, dollar’s valuation is likely now stretched
Gold update – shaky start to the new week:
This article was written by Eamonn Sheridan at www.forexlive.com.
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