TechFlow News: On February 20, according to JINSHI Data, UBS reaffirmed its bullish stance on gold, forecasting that international spot gold prices will reach $6,200 per ounce over the coming months. Analysts believe that geopolitical risks will remain elevated amid escalating tensions between the U.S. and Iran, while the Federal Reserve’s accommodative monetary policy cycle is expected to continue, exerting downward pressure on real interest rates. Analysts noted that global gold demand surpassed 5,000 metric tons in 2025; UBS expects further price gains, driven by stronger investment inflows and sustained central bank purchases. On the supply side, growth appears constrained. Although elevated gold prices may incentivize exploration activities, consulting firm Wood Mackenzie estimates that approximately 80 mines will exhaust their current production plans by 2028—indicating limited short-term supply elasticity.
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