A useful summary indeed, comments from UBS (in brief from a longer note):
Investors turning to gold amid
- escalating trade risks
- likely impact of higher tariffs on growth and inflation
- Dovish Fed expectations
- concerns about the potential for FX intervention
- Global yields continue to fall
- Latest headlines on some potential de-escalation of trade tensions seem insufficient to trigger a correction in gold, suggesting that there is a relatively high threshold for easing investor concerns. Persistent uncertainty is likely to keep gold well supported.
Forecast:
- We continue to see gold rallying to as high as $1,600 between now and year-end
- a potential pit stop around $1,580
