UBS raises gold price forecasts for 2026

UBS raised its gold price forecasts for the first three quarters of next year

UBS raised its gold price forecasts for the first three quarters of next year, citing expectations of a steady increase in demand for the precious metal.

The Swiss bank said the outlook is supported by lower real yields, persistent global economic concerns, and uncertainty surrounding US domestic policy, particularly ahead of the midterm elections and amid mounting fiscal pressures.

UBS now expects gold prices to reach $5,000 an ounce in the first three quarters of 2026 before easing to $4,800 an ounce by year-end, compared with its previous forecast of $4,300 an ounce.

In a note cited by Reuters, the bank said that if political or financial risks intensify, prices could jump to $5,400 an ounce, compared with an earlier estimate of $4,900.