Wall Street bullish gold, gold supports Token strong performance

Golden Finance reported that due to trade war concerns and Central Bank buying, Citi and UBS have raised their gold price expectations, expecting the Bull Market for gold to continue. Citi has raised its short-term target price to $3000 per ounce and raised its annual average price expectation from $2800 to $2900; UBS has also raised its 12-month target price to $3000. Currently, gold has risen to $2860, with a rise of about 9% year-to-date. At the same time, benefiting from the rise in gold prices, gold-backed tokens such as PAXG and XAUT have outperformed the crypto market. It is expected that if the gold price continues to climb, these assets will further benefit.