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Gold Climbs To US$2,690, Analysts Maintain Bearish Trading Bias
Golden Industrial Concept rises overall. LINGBAO GOLD (03330) increases by 6.03%. UBS Group expects the gold rally to continue in 2025.
Jinwu Financial News | The Golden Industrial Concept stocks are rising, as of the time of this report, LINGBAO GOLD (03330) is up 6.03%, Zijin Mining Group (02899) is up 2.45%, TONGGUAN GOLD (00340) is up 2.13%, and SD GOLD (01787) is also following suit. In terms of news, UBS Group released a Research Report indicating that the upward trend in gold prices is expected to continue this year. According to forecast data, UBS Group has adjusted its annual average price forecast for gold, lowering the 2025 expectation from the previous $2,885 per ounce to $2,800 per ounce, but still maintains a high level, with respective upside and downside potential.
Why investors are still buying gold despite a strong dollar and rising Treasury yields
Gold: Rebound Towards Last Month High at $2725 Is Possible – Société Générale
Gold: China's Central Bank Buys More Gold – ING
Europe Natural Resources Fund: The performance of Gold will surpass that of the US stock market in 2024. Next year's trend will depend on whether Emerging Markets demand can be sustained.
Li Gangfeng stated that the price of gold in US dollars rose by 25.5% in 2024, setting a new historical high 40 times (with the highest seen at 2,790 dollars), achieving the best annual performance in the past 14 years, while last year's returns also outperformed the US stock market.
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