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UBS Gold Outlook for 2022 Not Positive – Cites Falling Inflation, Higher Interest Rates

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UBS Gold Outlook for 2022 Not Positive – Cites Falling Inflation, Higher Interest Rates

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UBS says it expects the Federal Reserve to withdraw its monetary accommodations faster than some other major central banks in 2022 and this policy divergence leads them to expect the US dollar to strengthen further.

On gold, UBS analysts take a negative view, citing:

  • against the backdrop of rising rates and the belief that inflation will fall

In addition, UBS considers that the demand for oil continues to increase and therefore has a positive view of its price.

On actions:

  • While being aware of the risks associated with COVID-19 variants and inflation, we maintain a positive outlook on equities for the start of 2022.
  • Global economic growth is expected to remain above trend for the first half of 2022, monetary policy remains accommodative even as emergency support measures are reduced, and we forecast 10% growth in global corporate profits in the coming year.

The weekly Golden Candles show a wide side track since September 2020. Base building? (Comments welcome):

UBS Gold Outlook for 2022 Not Positive – Cites Falling Inflation, Higher Interest Rates

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