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Gold has been scaling record heights alongside equities in recent days, marking a significant milestone. Analysts at UBS delve into the outlook for the precious metal.
Gold seen as a good portfolio hedge against risk spikes
Our outlook for Gold remains optimistic throughout 2024, and we uphold our recommendation of considering it as a hedge within portfolios.
Anticipating a upward trend, we project Gold prices to ascend to $2,250. However, we advise waiting for price retracements to seize opportunities for exposure, even if such pullbacks prove to be minor and short-lived.
Additionally, we affirm Gold’s efficacy as a portfolio hedge against spikes in risk. Hence, we suggest allocating approximately 5% of diversified and balanced portfolios, denominated in USD, towards Gold.
