Mitsubishi UFJ: Confident that gold prices will rise to $2,750 by the end of the year.

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According to Mitsubishi UFJ Financial Group analysts, due to the weakening of the US dollar, gold futures hit a record high for three consecutive trading days, reaching a peak of $2570.4 on Tuesday. As the market speculates that Fed Chairman Powell will lay the groundwork for a significant interest rate cut at the Jackson Hole Symposium on Friday, the US dollar has fallen and gold has pumped. Mitsubishi UFJ Financial Group added that we are confident in our gold price expectations, which are higher than the market consensus. We expect the price of gold to pump to $2750 by the end of the year, supported by Fed rate cuts, Central Bank demand, and gold's triple role as a geopolitical hedge asset.

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