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Gold has surged 5% this week, emerging as a favored hedge against global risks, according to UBS. This increase reflects growing investor confidence in gold as a safe haven amid uncertain economic conditions.
The Swiss stock market experienced notable gains on Friday, driven by demand for defensive stocks amid geopolitical tensions related to Russia's nuclear strategy. Roche rose by 1.3%, Novartis by 2.3%, and the SMI index increased by 1.1% to 11,717 points, with 19 of the 20 SMI stocks gaining. The euro's recovery against the franc also supported the market, while Zurich Insurance climbed 1.0% following positive analyst feedback.
UBS reports that while palladium prices have risen 8.7% this week, the long-term outlook is bleak due to fragile demand and expected oversupply from the shift towards electric vehicles. The market remains volatile, influenced by speculative trading and geopolitical factors, particularly concerning Russian exports. Key technical levels indicate potential resistance at USD 1,044 and support around USD 919, suggesting cautious investor sentiment.
UBS recommends investing in inexpensive stocks that maintain high cash levels as new tariffs from the Trump administration are anticipated. This strategy aims to capitalize on potential market shifts resulting from the impending trade policies.
A €103 million funding package has been secured for a 237.6 MW solar plant in southeastern Bulgaria, marking the first renewable energy project over 100 MW to operate without a support scheme. The investment, led by the EBRD and Raiffeisen Bank International, will enable the plant to generate over 300 GWh of electricity annually. Plans are also in place to add 250 MW of energy storage on site, contributing to Bulgaria's goal of achieving 34.7% renewable energy in its electricity consumption by 2030.
Gold prices have surged above $2,700, driven by escalating geopolitical risks, particularly following President Putin's new nuclear doctrine and military actions in Ukraine. Additionally, a weak Philly Fed index has sparked speculation about potential interest rate cuts in the U.S., further boosting gold's appeal. The sustained rise above this key level is crucial for confirming an upward trend, with the record high of around $2,790 potentially within reach.
UBS has identified the recent correction in gold prices as a buying opportunity, projecting a rise to $2,900 by the end of 2025, reflecting an 8.8% upside. The bank attributes this optimism to central banks' increasing interest in gold amid rising debt and geopolitical tensions, noting that their reserves remain low relative to total assets.
Investors who purchased Raiffeisen shares a decade ago would have seen their investment grow significantly. An initial investment of EUR 1,000 would now be worth EUR 1,151.96, reflecting a performance increase of 15.20%, with the current share price at EUR 18.08. Raiffeisen's market valuation stands at EUR 5.91 billion.
Investors are concerned about President Trump's policies and the escalating war in Ukraine, leading to a shift towards safe havens. Nestlé's shares have fallen over 20% this year due to slow growth, while Nvidia reported impressive sales but faced high expectations. Swiss GDP growth slowed to 0.2%, with a notable trade surplus driven by the chemicals and pharmaceuticals sector.
Gold prices have reached a two-week high, continuing an upward trend, while WTI crude oil is eyeing a critical resistance level at $72.00. Natural gas prices have surged to a one-year high, showing strong momentum despite potential short-term consolidation.
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