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UBS resumes buying gold, betting on gold price reaching $6,000 by year-end

UBS resumes buying gold, betting on gold price reaching $6,000 by year-end

金十金十2026/04/13 04:55
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Golden Ten Data reported on April 13 that Union Bancaire Privée (UBP) has repurchased gold. Previously, the bank had significantly reduced its gold holdings due to the market downturn caused by the Iran war. The bank stated that it believes the long-term outlook for gold remains robust. UBP is gradually including gold in clients’ entrusted investment portfolios; previously, its proportion of gold holdings had dropped from around 10% to 3%. Since the outbreak of the war, gold prices have plummeted due to concerns about higher interest rates and the effects of tightening liquidity. UBP is planning to further expand its gold holdings, with the proportion in clients’ investment portfolios rising again to about 6%. The bank still expects gold prices to reach $6,000 per ounce by the end of this year, as structural demand—including central bank purchases, concerns over fiscal deficits, and ongoing geopolitical tensions—remains strong.
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