Gold Daily | Gold Hits $2,913 as UBS Raises Target Amid Investor Caution and Geopolitical Tensions

【Latest Gold Price and Recent Trends】

The gold price has reached $2,913, reflecting a nearly $30 increase this week. UBS raised its gold price target, citing investor caution and strong demand as gold hits unprecedented highs in 2025 amid market mismatches.

【Technical Analysis】

Gold is consolidating near recent highs. On the daily chart, buyers look for better risk-reward setups near $2,790, while sellers target a break towards $2,600. On the 4-hour chart, bullish momentum is defined by an upward trend line, with buyers eyeing new highs, and sellers seeking a break lower. The 1-hour chart shows bullish momentum with buyers relying on an ascending trend line, while sellers watch for downward breaks.

【Market Sentiment and Economic Background】

Gold remains favored as a safe-haven asset amidst uncertainty and potential stagflation fears. Geopolitical tensions, particularly US-Russia negotiations on Ukraine, dominate market sentiment. The potential for trade wars and tariff uncertainties continue to drive gold's appeal. With Western investors cautious, central banks and Asian investors primarily fuel gold's rise. The anticipated US-Russia talks and the Federal Reserve's meeting minutes are key upcoming catalysts.

【Analyst Opinions】

UBS analysts maintain bullish gold outlooks, predicting prices to reach $3,200 by later this year, then stabilize above $3,000 by year-end 2025. Despite the strong performance of stocks and cryptocurrencies, Western investors may shift towards gold, accelerating its rise. Analysts note that central bank buying and geopolitical tensions remain critical to gold's trajectory. HSBC and other institutions emphasize gold's hedge against trade disruptions, while Goldman Sachs and others have increased their forecasts, recognizing sustained central bank demand.