Geopolitical events will continue to support Gold-UBS
Global Scrap News | 2013-09-03 07:43:14
Global financial service provider UBS states that the geopolitical events will continue to support Gold rates . The analysts at UBS are of the opinion that uncertainty over U.S. military action against Syria will continue to support Gold.
By Paul Ploumis
ZURICH (ScrapMonster): Global financial service provider UBS states that the geopolitical events will continue to support Gold rates . The analysts at UBS are of the opinion that uncertainty over U.S. military action against Syria will continue to support Gold.
“The recent move in gold positioning clearly indicates further reluctance to be short as geopolitical tensions add to looming event risks out of the US”, UBS stated. “The dip to the $1374 low overnight was quickly bought and prices have remained generally buoyed for now. From a technical standpoint, key support sits at $1372.40 while resistance awaits at $1433.83.” they added.
