TechFlow, Aug 12 — According to Jinshi Data, Trump on Monday refuted claims that "gold would be taxed," ending speculation over whether gold would be caught in ongoing trade tensions. UBS Global Wealth Management stated that although the immediate risk of tariffs on gold has dissipated, the incident highlights the potential for policy-driven volatility. With reduced uncertainty, UBS said the investment case for gold remains intact, reinstating consideration of the April record high of $3,500.05. UBS expects de-dollarization trends, concerns over sanctions, questions about the Fed's independence, and persistent geopolitical and macro-related risks to support its core forecast of $3,500 per ounce. Furthermore, if geopolitical or economic conditions deteriorate, the risk of gold prices rising to $3,800 per ounce cannot be ruled out.
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