kingworldnews.com / December 01, 2016
With continued weakness and gold extremely oversold, UBS just issued a report stating gold is down, but not out. There are some charts included and a brief note about the silver market as well.
Below is a portion of a lengthy report issued today by UBS on the gold and silver markets.
Portion Of UBS Report: Gold down, but not out
We recently tapered our gold price expectations for 2017 to reflect the move across markets after the US elections, which has been driven by hopes that fiscal stimulus would boost growth and yields up ahead. However, we have not altered the overall upward trajectory as we think that it is premature to call for a game- changer as yet, given there is still much uncertainty on what the new administration’s fiscal package might look like. In reality, much is required to overcome the low rates regime. We have therefore maintained our bullish view on gold….