According to the report from UBS Group's Asia Pacific Investment Director's Office, Gold prices broke through $3,000 per ounce last Friday (14th), reaching a record high. Gold prices increased by 27% last year and have risen about 14% so far this year. Considering the rising risk factors, the price target for Gold has been raised from $3,000 to $3,200, an increase of 6.67%.

UBS Group reaffirms the advantages of Gold as a defensive Asset. Increased market uncertainty affects market sentiment, and as the risk of a recession in the USA rises, the Federal Reserve is likely to further lower interest rates.

UBS Group states that in the short term, the market has entered a technically overbought condition, but if President Trump's trade policies soften, it will weaken the defensive Bid for Gold, with the downside technical support level at $2,850 per ounce.

Additionally, the holdings of Gold-related ETFs have rebounded, with the world's largest Gold ETF, SPDR Gold Trust, reaching approximately 908 tons in February this year, the highest since February 2023, reflecting an increase in investor demand for Gold, while continued purchases by central banks also provide important support.