UBS Worries that Gold May Be Losing its Luster

Source:

Overall, we are growing more concerned that North American gold equities may have lost their relative multiple advantage over other commodity producers and may offer less portfolio protection in the event of a broader equity market downturn," the analysts said.

In its latest analysis published Thursday, UBS Investment Research questions if gold has lost its luster, citing the breakdown of the relationships between oil and gold, and between the U.S. dollar and gold.

"Overall, we are growing more concerned that North American gold equities may have lost their relative multiple advantage over other commodity producers and may offer less portfolio protection in the event of a broader equity market downturn," the analysts said.

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