UBS sees 3 factors to purchase gold

Gold fell on Thursday. If you like it UBS Global Wealth Management summary 3 factors to purchase.

1. Reserve bank need ought to stay robust

  • 2022 was the 13th straight year that reserve banks were net purchasers of gold, and need is most likely to continue
  • ” Based Upon the 1Q23 information from the World Gold Council, reserve banks are on track to purchase around 700 metric lots of gold this year, much greater than the average because 2010 of listed below 500 metric loads”

2. USD weak point

  • A lower dollar index (down for the YTD) ought to be encouraging for gold rates
  • ” The instructions of a weakening dollar is clear, with the United States Fed having actually signified a time out in its existing tightening up cycle after 500 basis points of rate walkings over the previous 14 months”

3. Economic downturn danger

  • ” General, current information coming out of the United States revealed the nation’s development is slowing, with weaker-than-expected 1Q GDP, 6 successive months of contracting production activity, and the weakest customer belief because November”

Like this post? Please share to your friends:
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: