PRECIOUS METALS | UBS Strategist Predicts End of Gold Bull Market Amid Iran Conflict

On March 31, a strategist from UBS suggested that the prolonged Iran conflict and sustained high oil prices might signal the end of the gold bull market. According to BlockBeats, Joni Teves, a precious metals strategist at the Swiss investment bank, stated in an interview last Friday that investors might be witnessing the final stages of the gold bull market. "We believe the gold price cycle largely aligns with the Federal Reserve's policy cycle, so we expect the rally to gradually fade by the end of the year, with gold prices consolidating at lower levels in the coming years," she explained. Teves noted that UBS's baseline expectation is that after a period of consolidation, gold prices will reach new highs later this year as allocation funds continue to enter the market. "However, it is important to point out that the ongoing Middle East conflict could lead to significant changes in macroeconomic outlook and policy expectations, which could, in turn, alter the long-term trajectory of gold prices."