UBS: Gold to Move 'Above $2,000 in Coming Months'

[zengrifter]

UBS: Gold to Move 'Above $2,000 in Coming Months'

Published: Thursday, 29 Sep 2011
By: Shai Ahmed / CNBC Associate Editor

Gold's recent sell-off belies its long term attractiveness and investors should avoid the panic and stay faithful to the precious metal, Dominic Schnider, Commodities expert at UBS Wealth Management told CNBC Thursday.

"The structural problems still remain and Greece is really going to call for higher prices and higher demand.

So we are looking at $2,000 and above in some of the months to come," Schnider said.

He dismissed notions that the gold bubble was close to bursting but cautioned that investors should expect more falls in the short term.

"In the short term you might see some further downside in the price but the demand side is still there," he said.

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