UBG - Gold Will Feed Off Renewed COVID Fears

Don’t look now, but gold is making a silent comeback after spending the last several weeks in the shadow of the resurgent U.S. equity market. In this report, we’ll look at how the recent action of the gold price reveals that, despite widespread optimism surrounding re-openings, investors still anticipate bad things ahead and are accordingly still supporting gold. I’ll also make the case that gold and the mining stocks are still in an intermediate-term bullish trend based on technical factors and will likely see higher prices this summer.

After suffering quite possible the worst ever

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