by John Rubino
Money managers who don’t recommend gold to their clients are becoming the exception rather than the rule. This week saw a couple more big-name banks join the pro-gold parade:
(RT) – The recent weakness of gold represents a “great entry point for investors” ahead of risk events such as the US election, said UBS Global Wealth Management.
“We like gold, because we think that gold is likely to actually hit about $2,000 per ounce by the end of the year,” the firm’s regional chief investment officer Kelvin Tay told CNBC.
He explained that “in [the] event of uncertainty over the US election and the Covid-19 pandemic, gold is a very, very good hedge.”