The UBS editorial team, comprising financial analysts and economists at UBS, a prominent global financial services firm, recommends purchasing gold during price dips rather than selling. Recently, gold prices fell by over $80 per ounce due to strong U.S. payroll and earnings data, coupled with a rise in the 10-year U.S. Treasury yield and the U.S. dollar index, UBS detailed. Despite positive payroll data, economic weaknesses were revealed, including a 4% unemployment rate and lower labor force participation, the team added, noting that the Federal Reserve is likely to indicate two rate cuts in 2024. With ongoing geopolitical risks and the upcoming U.S. election, UBS advises maintaining about 5% gold in a USD balanced portfolio to manage uncertainties.
UBS Recommends Buying Gold Dips Amid Economic Uncertainty
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