UBS cut its year-end gold price forecast to US$1,850 (from $1950 previously)

<p>UBS cuts its projections for gold:</p><p>End of 2023 forecast is USD 1850</p><ul><li>prior forecast was $1950</li></ul><p>June 2024 forecast $1950</p><ul><li>prior was $2100</li></ul><p>UBS cites:</p><ul><li>Downside risks are likely to persist as the landing points for gold’s key drivers remain uncertain. </li><li>But we recommend those long (on) the metal to hold, as we expect a recovery</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.