That's the bottom line on precious metals from a report visa UBS
In brief:
- Investors look to buy dips in gold
- a bias to be long
- no rush to build substantial positions, many are looking to opportunistically add to positions
- helping to keep dips shallow and the market well supported
- ETFs have been steadily adding to holdings
- market remains quite sensitive to fluctuations in risk sentiment
- Yet given lingering macro uncertainty, gold's appeal as a hedge and diversifier is also in focus, allowing prices to stay resilient despite a strong dollar and equities hovering at all-time highs.
Weekly candles:
