28 May 2024
Gold, silver, and copper have recently pulled back from their record highs but remain close to those levels, with analysts predicting further price increases over the next year. Gold prices, currently at $2,351.3 per ounce, have been supported by a weaker U.S. dollar, lower Treasury yields, and strong Chinese demand, which drove a significant price rally. UBS strategists forecast gold prices to reach $2,500 by September and $2,600 by year-end due to continued robust demand from China and soft U.S. economic data affecting rate cut expectations.