UBS has surprising message for gold investors after recent weakness [Yahoo! Finance]
Palantir Technologies Inc. Class A (PLTR)
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Source: Yahoo! Finance
The Swiss bank reiterated its bullish call on the king metal, doubling down on gold, with prices averaging $5,000 per ounce in , holding near in and in However, even after a steep drop in March, UBS sees substantial upside ahead. That's a notable call, given how quickly the market's sentiment has shifted. Gold fell roughly 14% in March , weighed down by rising bond yields, a stronger U.S. dollar, and renewed inflation concerns amid skyrocketing oil prices. Naturally, these kinds of moves raise questions about whether the rally has run its course. UBS views it differently, though. The bank feels that the long-term story hasn't changed, and the recent market weakness is more of a buying opportunity than a warning sign. How has gold performed so far in April? The safe-haven metal had its work cut out for it in April, after posting its worst month since 2008 in March as hopes for rate cuts faded, Reuters noted. For context, Reuters market data snapshot (April 4) revealed th
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