Gold Builds on Powerful Rally

UBS Wealth Management strategists suggest maintaining a long position on gold, predicting it could surpass $1650 per ounce in the coming weeks. Gold has been favored as a safe haven during the coronavirus outbreak, with investors turning to it amidst lower yields and high equity valuations. UBS anticipates that the effects of the coronavirus will diminish by the end of the first quarter, leading to rising yields and potential pressure on gold prices.

How has the coronavirus outbreak affected investor behavior towards gold?

What is the expected impact of the coronavirus on yields and gold prices according to UBS?