UBS: We can't find compelling reasons why gold would surge anytime soon

UBS strategist Joni Teves is turning neutral on gold after two years of being bullish. 
The catalysts for a strong rally such as global macroeconomic risk and a surging dollar have become more subdued, Teves said in a note. 
Investors haven't vastly increased their gold positions even after the rally from the lows of 2015, showing that the market doesn't have enough froth to trigger a sell-off, Teves said. Heading into 2018, there's no strong catalyst for a big gol