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- Gold prices managing to hold above the $1280 support area is encouraging - UBS
Gold prices managing to hold above the $1280 support area is encouraging - UBS
we think near-term pressure on gold is understandable
this consolidation as an opportunity to gradually build a strategic position in gold
but for now, the extent of the dovish shift in Fed expectations has made gold vulnerable to improvement in the data during a time when physical markets tend to be quieter.
physical demand out of China has been weak this year
interest out of India has been resilient
Central bank activity has been another source of support for gold - strong net buying from 2018 has extended into this year
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