Analysts Project Gold to Hit $3,500 as Investors Seek Safety in ETFs

What a Gold Revaluation Could Mean for the U.S. and the Dollar

UBS has raised its gold price target to $3,200 per ounce (from $3,000) as retail investors increasingly buy into gold-backed ETFs.

This follows gold breaking the $3,000 barrier on March 13, with prices up nearly 40% over the past year.

Other financial institutions including Macquarie Group and BNP Paribas have also increased their forecasts, with many analysts now predicting gold could reach $3,500.

The SPDR Gold Trust (GLD), the world’s largest physical gold ETF, is up 14% this year as investors seek safety amid trade conflicts, geopolitical instability, and economic concerns.