Lates News

The latest survey by the World Gold Council shows that central banks in various countries have been adding more than 1000 tons of gold each year in the past three years, which is double the average growth rate of the previous decade. The vast majority of respondents (95%) expect global central banks' gold reserves to increase in the next 12 months. The investment office of UBS Wealth Management stated that the survey aligns with its expectations, as central bank demand is expected to continue to support gold prices. Other factors that are positive for gold prices include ongoing political risks, declining real interest rates, and the long-term weakness of the US dollar. Gold prices are expected to reach about $3500 per ounce by the end of this year, higher than the current $3375 per ounce. The traditional role of the US dollar as a safe haven may face challenges, and investors could diversify into other currencies such as the euro, yen, pound, and Australian dollar during a dollar rebound.