UBS: Gold Prices Face Short-Term Pressure, Mid-Term Correction Risk Rises

Odaily News UBS analyst Joni Teves stated in a report that gold prices may face pressure in the short term, but the long-term outlook remains optimistic. She indicated that market concerns over the Federal Reserve's independence, escalating geopolitical tensions, and broader political uncertainties are supporting the price of this precious metal. However, despite the medium to long-term risks for gold still leaning towards the upside, this precious metals expert currently prefers to remain on the sidelines. "We believe the short-term price movement has shown signs of overheating, and the risk of a mid-term correction is rising." (Jin10)