UBS has lowered its gold price forecasts to 2027, citing delayed Federal Reserve rate cuts and resilient US economic data. Despite near-term downward pressure, the firm maintains a constructive medium-term outlook for the metal.
Key Takeaways
- 1.Gold prices are facing near-term pressure from strong US economic data and higher real yields.
- 2.UBS has lowered gold price forecasts due to the delayed start of Federal Reserve rate cuts to 2027.
- 3.Central bank purchases remain a critical pillar of support for gold, despite slower momentum compared to Q1.
Table of Contents
- Double whammy
- Investment implications
- Appendix
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Authors
Dominic SchniderGiovanni StaunovoWayne Gordon
Securities
XAU
Themes
Geopolitical risk
Regions
GlobalUnited StatesIranChina