UBS: Record gold price may continue to rise, multiple factors support future trend

UBS Global Wealth Management's chief investment office says record gold prices are still likely to rise further. Gold prices hit a new all-time high on Monday and have risen more than 27% since the beginning of 2024, the agency said. While the record gold price may deter some investors, further monetary easing by the Federal Reserve, worsening tensions in the Middle East and Ukraine-Russia, as well as strong demand from investors and central banks, could support further gains, the bank added.