Gold prices have come under increased pressure in recent weeks. Economists at UBS analyze XAU/USD outlook. Gold’s safe-haven benefits remain intact We
We think the next potential leg up in prices will in part be driven by an anticipated revival in demand for exchange-traded funds , from which there were outflows in the first half of 2023. A rise in ETF Gold buying typically occurs just ahead of a US easing cycle – the timing of which we anticipate will become clearer by year-end as we get more data and the Fed decisions are behind us.
Gold still looks attractive to us as a longer-term portfolio hedge – especially in the context of an uncertain global growth outlook, volatile equity market dynamics, and unsettled geopolitics. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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