Gold may gain from risk aversion and lower opportunity costs but its path may be bumpy, strategists at UBS report. Choppy prices in the near term Many
investors seek Gold as a portfolio diversifier in times of geopolitical tension.
Gold may also gain from shifting market expectations that the Fed hiking cycle has already come to an end and that US rates could potentially come down faster next year if the implications of the war cause a faster-than-anticipated slowing in US economic activity. Investors should note that uncertainty over both the war and the outlook for US rates may lead to choppy prices for Gold in the near term.
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