The Australian-New Zealand group ANZ has raised its gold price target for the end of this year to $3600 per ounce, given the strong momentum the precious metal is experiencing. At the same time, the group has increased its forecast for the price of gold to $3500 over the next six months. Meanwhile, the investment group revealed its expectations for a continued rise in silver prices as well, indicating the possibility of reaching $34 per ounce. Gold contracts experienced strong gains during trading on Wednesday, surpassing their historical highs to trade above $3303 per ounce, amid growing investor fears regarding the ramifications of the trade war between the United States and China, which could weaken the economies of both countries.
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