Gold and silver prices are seeing significant movements driven by various factors. Gold Chinese reserves have continued to increase, leading to a lack of bullion supply in China and creating arbitrage opportunities between onshore and offshore gold markets. The gold price in China has reached $2,370, while silver is priced at $33.48 with a 13% premium. UBS has upgraded its precious metal forecasts significantly, predicting gold prices to rise by 20-30% over the next three years to $2,775 per ounce (AUD$4,000) and silver to $40 per ounce by 2026. Gold’s bull market this year has been driven by Eastern buying and China easing. Spot gold has risen 0.5% to $2,365 per ounce, the highest in two weeks since May 23.
Gold and silver moving this evening. Gold at $2373 Silver +2%
Spot #gold > $2,370, highest since May 23. https://t.co/Kgh5fy3b7N
SPOT GOLD RISES 0.5% TO $2365/OZ; HIGHEST IN TWO WEEKS
⚡#China's #lithium carbonate futures opened up by 0.3% on Thursday after dropping to the key 100,000 yuan mark yesterday. Shanghai #silver rises 1.9%, and #gold is up 1.4%. #Copper +0.7%, #aluminum +0.3%. #Nickel -1.3%, #tin -0.3%, #zinc -0.02%. INE crude oil rises 1.4%. #OOTT… https://t.co/wrE9LbJyW1
UBS raises silver price forecasts, expects outperformance vs gold https://t.co/lsOQhp3ga2 https://t.co/Kisqq4lWWT
What’s driving gold prices to new highs? 🥇 @3edgeam's Fritz Folts breaks it down and makes the case for investors to hold #GC_F in their portfolios with @FuturesBenL:
GS: Gold’s bull market so far this year has been driven by Eastern buying and China easing https://t.co/iTuMbhKKgt
Gold prices forecast: UBS hikes its target https://t.co/03lA3OUguW https://t.co/wgN1A9OjDu
Gold price in China $2,370 Silver price $33.48 Silver +13% premium in China
UBS have upgraded their precious metal forecasts significantly this morning. Gold price forecasts by 20-30% over the next 3 years to US$2,775/oz - $AUD$4,000! Also upgraded Silver by 70% in 2026 to US$40/oz.
Gold Chinese reserves continue to increase. This created a lack of bullion supply in China creating arbitrage opportunities between onshore and offshore gold markets 👇 https://t.co/9qpXPK6LIZ