The bank’s earlier short-term prediction indicated that gold would trade between $3,000 and $3,300 per ounce.
The forecast was revised upward after US President Donald Trump suggested a 50% tariff on imports of products from the EU starting 1 June last week.
Over the weekend, in discussions with European Commission President Ursula von der Leyen, the US President consented to extend the deadline for the EU until 9 July to finalize a deal on tariffs.
source: reuters.com
