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UBG - Gold Fundamentally (And Technically) Heading For $2000
UBS AG Jersey ZC SP ETRACS REDEEM 05/04/2038 USD 25 - 902641810
The US dollar is slumping, US-China relations are worsening over trade, Chinese aggressive moves in the South China Sea, India's border and against Japan is leading to closing each other's consulates, and the pandemic is still crippling the US economy. All of this is fundamentally good for gold and silver. Using the Variable Changing Price Momentum Indicator (VC PMI), our technical analysis also shows that, technically, gold is ready for a move up with the target of $2,000 now on the table.
Gold Market
Gold is making a new high $1,900, the highest since 2011.