UBS ‘very bullish’ on gold as bank expects bullion price to surge higher

The price

The price of safe haven gold, which has soared nearly 30 percent this year, could rise further and remain high as global uncertainties persist, according to Swiss investment bank UBS.

“We are very bullish on gold. We think that the prices will go higher and what is interesting is we think it will stay higher for longer than expected,” Yeoh Choo Guan, the bank’s head of ASEAN global markets, told CNBC on Friday.

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