Gold is on course to reach record highs this year despite a sharp pullback in recent weeks, according to UBS strategist Joni Teves, who says the conflict in the Middle East is building medium-term upside risks even as short-term volatility keeps many investors on the sidelines. The bank's view on precious metals is unchanged. Gold hit an all-time high in late January before retreating as rising US real yields and a stronger dollar weighed on prices. UBS said the sell-down has been driven primarily by ETF outflows in the US and Europe, where holdings have historically been sensitive to real rates, though global ETF ... (full story)