UBS: Gold to reach almost $1700 next year
“The bullion bounce surge, which has taken off this month, will continue to be propelled by mounting investor worries, according to Swiss bank UBS. ‘Gold is set to gain as recession, trade and geopolitical risks rise, and yields fall,’ the report states. An ounce of the metal, which recently fetched $1,520 could rally more than 10% to $1,680 in 2020, the usually-conservative bank says.”
USAGOLD note: Another institution – this time UBS – weighs in with another strong bullish forecast for gold.