Counting on the Fed's dovish bias to win out, UBS goes against the grain by predicting a "major...

|By:, SA News Editor

Counting on the Fed's dovish bias to win out, UBS goes against the grain by predicting a "major gold rally" this year, expecting the Fed to continue printing into Q3 when UBS' commodity strategists - in contrast to its economists - expect global growth to lose momentum. But investors have been dumping their gold ETF holdings in favor of industrial metals; last week, physical palladium ETFs saw their largest inflows ever.