UBS projects gold to reach USD 5,900/oz by year-end 2026, driven by anticipated Fed rate cuts, strong central bank demand, and its role as a strategic portfolio hedge.
Key Takeaways
- 1.UBS forecasts gold prices will rise to USD 5,900/oz by year-end 2026 despite recent pullbacks.
- 2.Record physical gold buying by individuals and strong central bank demand are key price supports.
- 3.Anticipated Fed rate cuts and a weakening US dollar are expected to lower real yields and support gold's store-of-value status.
Table of Contents
- Key message
- 01 Gold remains well below its January highs.
- 02 But we remain confident that gold prices will move higher.
- 03 We expect gold prices to reach USD 5,900/oz by year-end.
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- One liner
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- Investment view
- Non-Traditional Assets
- Risk information
- Generic investment research – Risk information
- Important Information About Sustainable Investing Strategies
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Authors
Giovanni StaunovoDominic SchniderWayne GordonJon GordonMatthew Carter
Securities
XAUDXY
Themes
Central Bank DiversificationInterest Rate PivotSafe Haven / Store of Value
Regions
Middle EastNorth AmericaUnited StatesIran