For mine, there are two glaringly obvious unknowns in the gold market: future price movements, and the reasons behind past price movements.
Yes, UBS could be right about $2,500/oz by September, or they could be horribly wrong. Nobody knows.
Yes, gold's rise this morning could be partly attributable to expectations of Fed rate cuts, or they may have nothing whatsoever to do with it. It may well have been that bloody butterfly flapping its wings on the other side of the universe... again. Nobody knows.
Sure, follow your hunches, but don't bet the house on them.
$40 cents club, page-1291
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