UBS: If the gold price retests the $4,000 psychological level, it should be viewed as a good buying opportunity on dips

Glonghui, May 13 – Joni Teves, Precious Metals Strategist at UBS Investment Bank, pointed out that, amidst high macroeconomic uncertainty, gold’s role as a core allocation in investment portfolios is rising, and it is expected that gold prices will reach new highs this year. Although there may be short-term consolidation, if gold prices pull back to test the psychological threshold of 4,000 US dollars per ounce, it should be seen as a good opportunity to buy on dips. The strategist emphasized that UBS maintains a positive outlook on gold, and even sees long-term potential for prices to exceed baseline forecasts. The core driver of rising gold prices comes from continuously expanding demand from both the private and official sectors. Against a backdrop of a macro environment full of variables, the trend of investors diversifying into gold remains strong.