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November 5, 2024
PI Global Investments
Precious Metals

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


Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum in Munich.

Sven Hoppe | Picture Alliance | Getty Images

Gold and silver are expected to climb further in 2024 on expectations that the U.S. Federal Reserve will start cutting interest rates, UBS forecasts.

“We are expecting gold to be pushed higher by a Fed easing. Also this comes with a weaker dollar” said the investment bank’s precious metals strategist Joni Teves, who expects the metal to hit $2,200 per ounce by the end of the year.



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