According to BlockBeats, on September 24, UBS Global Wealth Management's Chief Investment Office said that the record gold price is still likely to rise further.

Gold prices hit a record high on Monday and have risen more than 27% since the beginning of 2024, the agency said.

The bank added that while record gold prices may put off some investors, further monetary easing by the Federal Reserve, worsening tensions in the Middle East and Ukraine-Russia, and strong demand from investors and central banks could support further gains in gold prices.