UBS analysts are making a bullish call on gold, saying that the yellow metal will march to $1,400/oz during the second half of the year.

“We forecast the gold price to increase through 2016 and believe the $1,500/oz mark could be tested by late 2016 or early 2017 as the macro implications of the Brexit vote are clarified, and the 8 November US election weighs on sentiment,” Credit Suisse’s Michael Slifirski said last Thursday.