Iau stock price today forecast is supported by hedge fund positioning

IAU stock price today forecast is supported by hedge fund positioning revealed in recent CFTC reports. The ETF tracks gold spot prices closely, and resistance at $47.60 could be tested amid softer retail sales data. Gold prices surged to a new record high on Monday, as UBS boosted its forecasts in anticipation of increased retail buying, as quoted on Morningstar. UBS analysts, led by strategist Giovanni Staunovo, adjusted their gold forecasts. They boosted their June forecast to $2,300 an ounce, surpassing the target, and lifted the year-end and end-March 2025 forecasts to $2,500 an ounce. Gold is currently hovering around a level of $2,358.40. For true goldbugs, this lack of yield is not a big concern, since they value the metal for its security and believe the price will only go up in the long term. Less committed investors, though, may want to think twice about putting a sizable portion of their wealth in an asset that doesn’t produce income. Buying a small amount, though, is likely a wise choice for most people, both owing to gold’s relative stability and in the interest of the broader goal of a diverse portfolio. IAU stock price today forecast benefits from supportive macro conditions, as bond yields ease from recent highs. Moving averages suggest a bullish bias, particularly if prices hold above $46.80 through the next three sessions.