UBS: Gold may retest the $4,000 mark again, with strong dip-buying demand providing support.

BlockBeats news, October 23 - UBS believes that gold prices may retest $4,000 per ounce, but expects strong dip-buying demand to provide support for gold prices, forming a price floor.

Although rising real US Treasury yields and a stronger dollar are putting pressure on gold prices, factors such as continued gold purchases by central banks will provide support for gold. UBS expects annual central bank gold purchases to reach 750 to 1,000 tons.