US precious metal stocks collectively rise, UBS points out that gold still has room to rise

US gold and silver stocks collectively rose, with Harmony Gold up over 10%, DRDGOLD up over 8%, Kinross Gold up over 5%, MAG Silver, and First Majestic Silver up over 3%. On the news front, international gold prices have regained momentum, with spot gold reaching $2430 per ounce intraday. In addition, UBS's latest research report pointed out that investors still have a strong interest in "buying on dips" in gold, indicating that gold still has room to rise and recommending an increased allocation to gold. In May this year, UBS commodity analysts predicted in their research report that international gold prices would climb to $2500 in September and reach $2600 by the end of the year. UBS stated that for investors who missed out on the gold market, silver provides a trading opportunity for chasing gains, believing that silver has greater potential to outperform the market