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'Safe-haven' gold assets more appealing amid uncertainties
Manila Bulletin
|May 18, 2025
Swiss banking giant UBS expects gold prices to keep climbing, citing rising global trade uncertainties that are boosting the metal's appeal as a safe-haven asset during economic turbulence.
"Despite the rally that gold has already achieved this year and the already strong bullish market consensus, positioning indicators that we track suggest that there is still room to run," said Joni Teves, precious metals strategist at UBS Investment Bank, during the bank's media briefing on Thursday, May 15.
This means that even though gold prices have already gone up multiple times this year, "there's room for gold to run higher."
Teves has updated her forecast and now expects gold prices to rise up to $3,500 per ounce this year.
Dit verhaal komt uit de May 18, 2025-editie van Manila Bulletin.
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