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Singapore Bank UOB has added its voice to support gold

The Singapore bank, UOB has added its voice to several major players predicting big things for gold in the coming months and years. Its new commodities strategy reports paints a rose picture for those planning to buy now, with a $1800 price bracket within sight.

Head of markets strategy Heng Koon said, “Our forecast is for gold to rebound significantly in the quarters ahead to USD $1,650 in 2Q20, $1,700 in 3Q20, $1,750 in 4Q20 and $1,800 in 1Q21.

“Going forward, once the USD funding crunch potentially dissipates across 2Q20, massive global monetary policy easing coupled with unprecedented fiscal policy stimulus will light the fuel for further gold strength.”

“Our forecast is for gold to rebound significantly in the quarters ahead … Most global central banks have not only floored rates near zero but many have also entered into large Quantitative Easing programs. These significant stimuli bode well for gold and will be the fuel for gold’s really once the USD funding crunch abates across 2Q.”

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