UBS on gold into H2 of 2024 … "most preferred."

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UBS “see gold as an attractive geopolitical hedge and portfolio diversifier, and rate the metal as most preferred.”

The comments is from a note that makes three central points. In brief:

1. We continue to see a supportive backdrop for global equities

  • expect … inflation normalizes
  • central banks embark on an easing cycle

2. We think investors should make sure they’re sufficiently invested in AI, with a tactical tilt to the enabling layer of the technology’s value chain and megacaps.

3. Political uncertainty

  • US … we expect market volatility to continue in the lead up to the US presidential election in November.
  • political turbulence in France
  • smaller mandate for India’s Prime Minister Narendra Modi after the election

This article was written by Eamonn Sheridan at www.forexlive.com.



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