UBS: Gold's Record Rally Has Room to Run Despite $2,500+ Prices Gold prices have reached record highs in August 2024, surpassing $2,500, yet UBS analysts believe the market is not overvalued. They cite favorable macroeconomic factors, including dovish Fed expectations, lower real rates, and a weaker US dollar, as driving forces behind gold’s ascent. Despite the price surge, market positioning indicators suggest room for further growth, with net long positions on Comex below historical highs and sustained inflows into gold ETFs. UBS also notes the reestablishment of gold’s negative correlation with US real interest rates and its dual role as both a safe haven and a correlated asset with risk markets, supporting their positive outlook for gold’s continued strength. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Interest Rate Outlook: Fed Plans Cautious Cuts After Inflation Assessment READ MORE BRICS Expansion and De-Dollarization Efforts Challenge US and EU Economic Dominance READ MORE Rising Tide of Global Debt Set to Elevate Yields, Predicts Goldman Sachs READ MORE Precious Metals Prices Show Mixed Trends, Index Remains Sideways READ MORE Silver Surges: Anticipation of Rate Cuts Sparks 4% Price Jump in a Week READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment