Gold 'Downgraded' By UBS Analyst: But Now May Be Time To Buy Gold Mining Company Stocks

Gold is headed down for the next few months, after the precious metal stood its ground against prevailing bearish winds in October for a short spell, according to a UBS AG (VTX:UBSN) research note from Tuesday. UBS precious metals analyst Joni Teves downgraded her gold price targets to $1180 per ounce in the coming month, and $1100/oz in the coming three months.