CandleFocus Gold-Backed Tokens Set to Benefit as Wall Street Goes Even More Bullish After Record Rally
2025-02-08
Author: Content Editor
Major financial institutions, including Citi and UBS, have raised their gold price forecasts citing growing trade war fears and central banks' accumulations. Gold-backed cryptocurrencies like PAXG and XAUT have been benefiting from this trend and outperforming the wider cryptocurrency market. Citi has adjusted its short-term gold price target to $3,000 per ounce and UBS has hiked its 12-month gold price target to $3,000 per ounce. Both institutions believe that gold's appeal as a store of value and hedge against uncertainty will continue to drive demand.
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