Gold Price Forecasts Rise Amid Economic Uncertainty
- Citi increased its short-term gold price target to $3,000 per ounce.
- Citi’s average annual forecast rose to $2,900 from $2,800.
- UBS set a 12-month gold price target at $3,000 per ounce, up from $2,850.
- Gold is currently trading at $2,860 after a 9% year-to-date increase.
- Gold-backed cryptocurrencies like PAXG and XAUT are outperforming the broader market.
Citi and UBS have raised their gold price forecasts to $3,000 per ounce due to geopolitical tensions and economic uncertainties. Gold-backed cryptocurrencies are also benefiting from this trend.
Source (2.6)https://www.coindesk.com/markets/2025/02/08/gold-backed-tokens-set-to-benefit-as-wall-street-goes-even-more-bullish-after-record-rally?rand=52298
