Gold and Silver Pull Back — Smart Money Buys When Others Wait 
According to UBS Investment Bank strategist Joni Teves, gold’s current rally could extend further despite already reaching historic levels.
Her analysis focuses on the crucial role of inflation dynamics, particularly emphasizing how the implementation of new tariffs could act as an inflationary catalyst. This environment, she argues, creates uniquely favorable conditions for gold. The strategist’s perspective suggests that rather than seeing current price levels as a peak, investors should consider the broader macroeconomic context, where tariff-induced inflation could continue to drive gold prices higher.
This “unprecedented territory” for gold reflects a fundamental shift in market conditions that could sustain bullish momentum in the precious metals sector.
