Gold has been consolidating over the past two weeks - even though the escalating Iran conflict would typically be expected to drive prices higher.
The metal’s muted reaction has left many market participants puzzled.
UBS explains why this is historically less surprising than it may seem: Gold’s track record as a safe haven during military conflicts is mixed - something the current price action reflects.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
Unlock research summaries
Follow top, independent analysts
Receive personalised alerts
Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.