Gold investors appear to be suffering a crisis of faith as safe-haven demand for the precious metal has been listless in recent weeks.
Despite the yellow metal’s recent disappointing performance, UBS precious metals strategist Joni Teves is maintaining her current outlook for the gold market to average the year around $1,325 an ounce.
Her comments come as gold sees a modest boost while weak global economic data and rising trade tensions weigh on equity markets. June gold futures last traded at $1,285.30 an ounce, up 0.87% on the day. Meanwhile, the Dow Jones Industrial Average last traded at 25,388 points, down 384 points or 1.5% on the day.
Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana. The Company also has a small gold mining and exploration portfolio in Kenya, Ghana and Burkina Faso.