$TRUMP $XAU New UBS outlook for the gold market: The sell-off will stop here
UBS believes gold may retest the support level of $4,000.00 per ounce in the near term, but expects structural dip buyers to establish a firm floor at that level.
Strategist Giovanni Staunovo said in a note published Friday that gold prices had fallen amid rising U.S. real yields and a stronger dollar, which increased the opportunity cost of holding the metal.
UBS believes gold may retest the support level of $4,000.00 per ounce in the near term, but expects structural dip buyers to establish a firm floor at that level.
Strategist Giovanni Staunovo said in a note published Friday that gold prices had fallen amid rising U.S. real yields and a stronger dollar, which increased the opportunity cost of holding the metal.