BlockBeats message, March 31, a UBS (UBS) strategist said that the Iran conflict becoming protracted and oil prices staying elevated could mean the end of gold’s uptrend.
The Swiss bank’s precious metals strategist, Joni Teves, said in an interview last Friday that investors may currently be witnessing the tail end of a gold bull market. “We believe the gold price cycle is largely synchronized with the Federal Reserve’s policy cycle, so we expect the rally to gradually fade by year-end, and that gold prices will trade range-bound at low levels in the coming years,” she said.
Teves said the UBS team’s baseline expectation is that after a period of consolidation, as allocation funds continue to flow in, gold prices will set new highs later this year. “But it needs to be noted that continued conflict in the Middle East could lead to major changes in the macroeconomic outlook and policy expectations, thereby correspondingly altering gold’s long-term trajectory.” (Jin10)
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