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 Talent Exodus Under John Williams Sparks Concerns at New York Fed READ MORE Post-Biden Exit: Markets Seek Direction from Earnings and Economic Indicators READ MORE Record Start to 2024: Companies Ramp Up Share Repurchases READ MORE Towards Global De-dollarization: Iran Advocates for BRICS Digital Currency in 2024 READ MORE Gold Climbs on Anticipation of Fed Rate Cuts and Middle East Unrest READ MORE Add a Comment Cancel replyYour email address will not be published.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