The price of Gold rose higher after Goldman Sachs raised Gold’s year-end forecast to $3,300 per ounce. This was a direct result of an increase in Gold ETFs and strong central bank demand.
Gold investment as a safe haven has increased recently as investors become anxious about escalating global trade wars and US economic growth.
Goldman Sachs previously targeted Gold prices at around $3,100 for the year, but with an increase in Gold ETFs and Asian central banks buyers continuing their purchase of gold bullion, expected to rise rapidly over the next 3-6 years, the forecast has risen significantly. is now the time to risk-proof your portfolio with an investment in gold. Chat with an advisor about gold as a stabiliser.
Ubisoft shares surged 11% after news of a new gaming subsidiary backed by Tencent, including its best game franchises, Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Six. Tencent is investing $1,25 billion into the unit. This comes after Ubisoft saw a 52% drop in third-quarter net bookings.
The game maker said that its newly formed unit will focus on building game ecosystems designed to become evergreen and multiplatform. The investment from Tencent values the new subsidiary at around €4 bn.
The new game ‘Assassin’s Creed Shadows’ of the global franchise was released last week and has received favourable reviews to date.
The world of gaming generated over $455 billion in sales last year alone, with mobile gaming raking in $98.7 billion.
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