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The Bank of England's upcoming meeting is anticipated to maintain the Bank Rate at 4.50%, with expectations of a muted market reaction. Analysts suggest a potential shift towards a quicker interest rate cutting cycle, influenced by German politics and global factors, leading to a bearish outlook for GBP FX.
UBS has raised its gold price target to $3,200 per ounce, citing a protracted global trade war and increasing safe-haven demand as key factors. The bank's analysts noted that the recent surge in gold prices, surpassing $3,000, is supported by strong ETF inflows and robust central bank purchases, which could reach around 1,000 metric tons annually. This shift in market dynamics reflects a growing reliance on gold as a store of value amid economic uncertainties.
Gold prices have surged to a record high of $3,004.94 per ounce, prompting UBS to raise its price forecast to $3,200. The strategists attribute this rally to ongoing policy risks and a potential trade war, which has increased safe-haven demand for gold. Additionally, strong inflows into ETFs and significant purchases by central banks, particularly from China and Poland, are expected to support the market further.
UBS has raised its gold price target to US$3,200 an ounce, citing heightened trade risks and a deteriorating US economic outlook as key factors driving demand for the precious metal. Analysts predict ongoing haven demand amid escalating trade conflicts and potential interest-rate cuts by the Federal Reserve. Other banks, including Macquarie and BNP Paribas, have also increased their forecasts, highlighting strong inflows into bullion-backed ETFs and robust central bank purchases as crucial support for prices.
UBS CEO Sergio Ermotti will earn approximately CHF14.9 million in 2024, a slight increase from CHF14.4 million in 2023, despite only working nine months last year. The total remuneration for UBS's Executive Board will reach CHF143.6 million, up from CHF140.3 million, with a significant portion of bonuses deferred to align employee interests with stakeholders. Chair Colm Kelleher will receive CHF5.5 million until the next Annual General Meeting.
UBS has raised its gold price target to $3,200 per ounce amid ongoing economic and geopolitical uncertainties, following a record high of $3,000 last week. The bank attributes this potential rise to ETF inflows and central bank purchases, predicting a buying surge of 1,000 metric tons this year. While investors may have overbought, caution remains towards US equities, with a technical support level set at $2,850 per ounce.
UBS has raised its gold price forecast to $3,200 an ounce, citing increased haven demand due to escalating global trade tensions and a deteriorating US economic outlook. The bank emphasizes the importance of gold as a store of value, with central bank purchases expected to remain strong, supporting prices. Other banks, including Macquarie and BNP Paribas, have also increased their gold price targets recently.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding its business risks and size, which is creating uncertainty as the country prepares to regulate its largest bank. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, despite already meeting high standards for global systemically important banks. The bank supports measures for executive accountability and a permanent liquidity backstop for systemically important institutions, while awaiting further details on capital requirements from the Swiss government.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding the risks associated with its size and business activities, which is creating uncertainty as the country prepares to regulate its largest bank. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, although it asserts that it already meets high standards for global systemically important banks. The bank is awaiting further details on these requirements from the Swiss government, expected in May, and supports measures for executive accountability and a public liquidity backstop for systemically important banks.
UBS has expressed concerns over the "ill-informed" public debate in Switzerland regarding its size and activities, which is creating uncertainty as the country considers new banking regulations. Following its acquisition of Credit Suisse, UBS is facing stricter capital requirements, despite already meeting high standards for globally systemically important banks. The bank supports measures for individual executive accountability and a permanent safety net for systemically important institutions, while awaiting further details on capital requirements from the Swiss government.
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