UBS: Gold prices may face pressure, but long-term prospects are optimistic.

UBS Global Research analyst Joni Tevis pointed out in a report that the price of gold may be under pressure in the short term, but the long-term outlook remains optimistic. She stated that concerns about the independence of the Federal Reserve, escalating geopolitical tensions, and broader political uncertainty are supporting precious metal prices. Despite the medium to long-term upward risks for gold, she currently leans towards taking a wait-and-see approach. "We believe that short-term price fluctuations are becoming too large, and the risk of a mid-term pullback is increasing," she said.