UBS Raises Its 2026 Gold Targets
UBS Raises Its 2026 Gold Targets
Swiss banking giant UBS has upgraded its 2026 outlook for gold prices, as the metal heads toward what the bank describes as its strongest yearly close since 1979.
$5,000 target for the first three quarters
UBS expects gold to climb to $5,000 per ounce during the first three quarters of 2026. Previously, the bank had projected gold to trade around $4,500 over the same period.
A cautious Q4 pullback scenario
UBS also warned of a limited correction in the final quarter of 2026. Its projection suggests gold could ease back toward $4,800 per ounce in the last months of the year.
“We keep our long position”
UBS strategists said they are maintaining their stance on gold, stating: “We continue to hold our long position and are raising our price target.”
What’s driving the upgrade
The updated forecast is anchored in expectations that safe-haven demand will remain strong amid ongoing geopolitical risks and uncertainty in global markets. UBS believes these factors can continue supporting gold prices in the period ahead.
