March 4, 2024

Brighton Journal

Complete News World

Gold prices reach $2,200 and outperformance awaits silver, says UBS

Gold prices reach $2,200 and outperformance awaits silver, says UBS

Gold and silver bars of various sizes sit in a safe on a counter at precious metals dealer Pro Aurum in Munich.

Sven Hope | Image Alliance | Getty Images

Gold and silver are expected to rise further in 2024 amid expectations that the US Federal Reserve will start cutting interest rates, according to UBS forecasts.

“We expect gold to be pushed higher by Fed easing. This also comes with a weak dollar,” said Johnny Teves, precious metals strategist at the investment bank, who expects the metal to reach $2,200 an ounce by the end of the year.