UBS is sticking to its bullish gold forecast.

  • says the move higher for equities and lower for gold is a 'highly optimistic' view for lower policy and political risk, this is premature
  • expect US yields and US dollar to move into downtrend, which will support gold
  • gold fundamentals, as a hedge and diversity play, are intact
Citi has lowered its estimates for flows into gold ETFs and is wary of lower prices for the metal in