Credit Suisse Raises Gold Price Forecast to $3,200 Amid Escalating Global Trade War Risks

Credit Suisse Group has adjusted its gold price forecast upward to $3,200 per ounce, citing increasing risks associated with the ongoing global trade war. Analysts at Credit Suisse anticipate that persistent trade tensions will continue to drive investors towards gold as a safe-haven asset. This revised forecast reflects an increase from the bank's previous long-term projection of $3,000 per ounce. The analysts noted that escalating trade conflicts highlight gold's role as a store of value during uncertain times. They also pointed to the potential for further interest rate cuts by the U.S. Federal Reserve amid concerns about a deteriorating U.S. economic outlook as another factor supporting higher gold prices. Increased investment flows into gold-backed exchange-traded funds (ETFs) and strong demand from central banks are also expected to contribute to gold's upward trajectory.