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Gold has crushed stocks, bonds and even bitcoin in 2025. This banking giant just got more bullish.
All that's glittering is still gold, says UBS Global Wealth Management, whose strategists have a shiny new price target. Stocks may be in for a struggle until Jay Powell steps up to the Jackson Hole podium on Friday. Also paying attention will be gold bugs, ears perked for rate-cut hints from the Fed chief. Lower interest rates or increasing sentiment for that has tended to work in gold's favor because it lowers the opportunity cost of holding the asset - lower rates mean less returns on interest-bearing investments like bonds and savings accounts. Recent data showing weak jobs numbers and less worrying inflation ... (full story)