$GPL

UBS has raised concerns about the escalating conflict in the Middle East, suggesting it poses downside risks for metal markets. Factors such as supply chain disruptions and heightened geopolitical tensions could lead to decreased demand for metals. Investors are advised to closely monitor the geopolitical landscape as it may profoundly affect commodity prices. UBS specifically highlighted that precious metals may see volatility in response to the situation. Overall, the outlook for metals appears increasingly cautious due to the conflict.