Gold will jump to $2,900 per ounce by next year's end: UBS
UBS Group AG expects gold to jump to $2,900 per ounce by the end of next year amid high demand from central banks, elevated geopolitical tensions and high macro volatility. Goldman Sachs also forecasted gold to climb to $3,000 per ounce next year. Spot gold, currently at around $2,630, dipped after Donald Trump's victory in US Presidential elections boosted dollar.