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2025-10-31 09:15:53
[Gold's Long-Term Positive Fundamentals Remain Solid] 1. Despite the recent significant pullback in gold prices, Heng Koon How, Head of Market Strategy at UOB, points out that gold's long-term positive fundamentals remain solid. He believes that continued allocations by central banks and sustained buying of gold by investors through various investment products form a strong foundation supporting gold. 2. Heng Koon How emphasizes that all these gold purchases share a key common motivation: in the context of increasing volatility and de-dollarization, investors need to diversify their portfolios through gold for hedging. 3. Based on this assessment, UOB maintains its positive outlook on gold and has comprehensively raised its gold price forecasts. The bank has raised its Q4 2025 gold price forecast to $4,000 per ounce and its target prices for the first three quarters of 2026 to $4,100, $4,200, and $4,300 respectively, all $100 higher than its previous forecasts.
