Gold: Buy the dips amid lingering macro uncertainty – UBS

The UBS analysts stay bullish on gold’s outlook and recommend ‘buy the dips’ strategy amid looming macro uncertainty.

Key Quotes:

“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.”