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Investment banks raise gold forecasts

ByVictoria

UBS and Commerzbank raised their gold price forecasts on Friday, joining other investment banks as investors drive the safe-haven metal to record highs amid the economic uncertainty sparked by U.S. President Donald Trump’s trade policies.

Trump’s tariffs have roiled financial markets, stoking fears of inflation and a global recession. While he has paused most duties, he has hiked those on China to 145%, prompting Beijing to lift its tariffs on U.S. goods to 125%.

“We expect gold’s rally to extend into next year and for prices to stabilise at higher levels further out,” UBS analysts said in a note

Source – Reuters

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