Home News Gold

UOB upgrades gold to 'positive' with raised forecast of US$2,100 per oz for 2QFY2022

Felicia Tan
Felicia Tan3/9/2022 09:57 PM GMT+08  • 3 min read
UOB upgrades gold to 'positive' with raised forecast of US$2,100 per oz for 2QFY2022
The renewed pull-back in US real yield is likely to support the growth in gold prices further: UOB
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

UOB Commodities’ head of markets strategy, Heng Koon How, has upgraded his forecast for gold to “positive” from “neutral” as the price of gold jumped above US$2,000 ($2,727.45) per oz.

The price surge came after US president Joe Biden announced the ban of Russian oil imports to the US on March 8.

According to Heng, the surge in the price for gold came very close to the all-time high of US$2,072 per oz that was seen in August 2020.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now