UBS sees gold rising to $6,200 per ounce

UBS expects gold prices to reach fresh record highs of $6,200 per ounce

UBS expects gold prices to reach fresh record highs of $6,200 per ounce in the coming months, driven by the continuation of key factors that fueled the metal’s strong gains over the past year.

The Swiss bank said trade uncertainty has resurfaced, particularly after US President Donald Trump imposed a 15% global tariff, boosting demand for the yellow metal amid escalating geopolitical tensions.

UBS analysts also expect the Federal Reserve to cut interest rates twice by 25 basis points each before the end of September, reducing the opportunity cost of holding non-yielding gold, Reuters reported.