Summary of institutional views on financial markets on April 21
A summary of institutional views on gold, oil, foreign exchange, economic outlook and central bank policy outlook on April 21.
1. UBS maintains confidence in gold, despite its model showing a fair value at $1,500 per ounce.
UBS believes gold is well supported near current levels, at least until U.S. inflation falls or geopolitical risks ease. The bank expects gold prices to reach $1,950 per ounce by the end of June. Against the backdrop of geopolitical and inflation risks, investors should be long gold for insurance purposes, but in the medium term there are reasons to manage downside risks. Currently, UBS's model estimates the fair value of gold at around $1,500 per ounce
2. the financial website Fxstreet: the dollar may see a pullback, but still looks like the best G10 currency in the long term.
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