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Analysts Predict Gold to Reach $3,200 Later This YearBy City A.M - Feb 17, 2025, 3:00 PM CST
UBS has upgraded its target price for gold, predicting it will reach $3,200 later this year due to strong demand and bullish sentiment.While gold prices have surged, Western investors have largely avoided the asset class, with central banks and Asian investors driving the current rally.Analysts believe that the gold rally will accelerate further once Western investors begin investing, as there is currently a lack of investor positioning in the precious metal.
Gold prices have already increased 10 percent in 2025 to $2,900 (£2,300), but UBS has upgraded its target price for the precious metal again.
UBS analyst Joni Teves said gold has had “unprecedented market dislocations” and reached a record high in 2024, but it’s only expected to move higher in 2025.