Equities are not the only assets hitting all-time highs. Gold has been reaching record levels through the last few days. Economists at UBS analyze the yellow metal’s outlook.
We remain positive on the price of Gold for 2024 and continue to recommend it as a portfolio hedge.
We expect Gold to trend higher to $2,250 but would wait for price setbacks to gain exposure, even if these turn out to be modest and brief.
We also continue to see Gold as a good portfolio hedge against risk spikes; we recommend an allocation of around 5% in diversified and balanced USD-based portfolios.
Keep up with the financial markets, know what's happening and what is affecting the markets with our latest market updates. Analyze market movers, trends and build your trading strategies accordingly.