Now that gold has run up to 1320, a lot more analysts are turning positive. Funny how that works… Yesterday the UBS came out publicly and said they are “positive” on commodities for 2019. The wording is a bit droll, with rousing text like “a positive view might surprise investors” and “we reckon…”. Not quite stuff that makes the blood boil, but that’s the Swiss for you. Plurimi’s head analyst gave a good interview yesterday, saying “gold is an attractive investment right now.”
That’s a little more enticing. By far the most interesting write-up of the day came from Ross Norman of Sharps Pixley, who did a very nice job with his walk-through and even gave readers some charts illustrating his points. But then, we’ve always enjoyed Ross’ posts. And he’s been generally positive on gold since late last year, so not a newcomer to the bull camp.