BlockBeats News, July 23rd - UBS gold strategist Joni Teves remains optimistic about the medium to long-term outlook for gold. She pointed out that the price of gold has continued to rise since earlier this week, with Mainland China and Hong Kong gold stocks collectively rising approximately 20% in three days, which is a positive signal. "We believe that market confidence in gold is beginning to improve and we continue to expect the price of gold to rebound from its current levels by the end of the year," she stated.

The UBS global team remains optimistic about the medium-term outlook for gold and predicts that the price of gold will reach $4675 per ounce by the end of 2026 and $4800 per ounce by the end of 2027. The key upcoming events to watch are the Fed's policy stance at the end of July during the FOMC meeting and further developments in the Middle East situation. (Jinshi)