UBS Sets $2,900/oz Gold Target, Advises Buying on Dips

24.11.13

UBS remains bullish on gold, advising investors to buy on dips around $2,600/oz with a $2,900/oz target over the next 12 months. The bank emphasizes gold’s enduring value as a hedge against economic uncertainties and recommends a 5% allocation in balanced portfolios, citing factors such as central bank demand, potential US fiscal deficits, and ongoing geopolitical tensions as supportive of gold prices.

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