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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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    Gold set for seventh weekly gain

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    Texans are to be allowed to pay with with gold and silver for everyday transactions after Governor Greg Abbott signed House Bill 1056 into law. The law, which was championed by Republican state representative Mark Dorazio, designates the precious metals as legal tender in the state.

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    Legal Tender – officially recognized money