“We continue to be optimistic about gold and will raise our target price for March, June, and September 2026 from $4,500 per ounce to $5,000.” According to the latest opinion of the UBS Wealth Management and Investment Director's Office, the price of gold recently reached a record high, mainly driven by factors such as the weakening US dollar, heightened geopolitical tension, continued institutional uncertainty, and tight seasonal liquidity. Central banks in many countries continued to increase their gold holdings, increased ETF investment inflows, and strengthened physical demand for gold bars and coins, providing solid support for the rise in gold prices. Looking ahead to 2026, UBS anticipates that as market concerns about US fiscal sustainability deepen, central banks and investors may continue to favor real assets such as gold that have no rival risk, and demand for gold is expected to continue to grow steadily. Investment popularity in gold ETFs is also expected to remain high. However, gold prices are currently high. If the Federal Reserve unexpectedly turns hawkish or ETFs undergo large-scale redemptions, gold prices may face downward pressure. UBS warned that historical experience shows that the price of gold may enter a consolidation period after the US election and is expected to fall slightly to 4,800 US dollars/ounce by the end of 2026. If political or financial risks rise further, the price of gold is expected to rise to 5,400 US dollars. Gold is still a very attractive asset and an important risk hedging tool in investment portfolios.

“We continue to be optimistic about gold and will raise our target price for March, June, and September 2026 from $4,500 per ounce to $5,000.” According to the latest opinion of the UBS Wealth Management and Investment Director's Office, the price of gold recently reached a record high, mainly driven by factors such as the weakening US dollar, heightened geopolitical tension, continued institutional uncertainty, and tight seasonal liquidity. Central banks in many countries continued to increase their gold holdings, increased ETF investment inflows, and strengthened physical demand for gold bars and coins, providing solid support for the rise in gold prices. Looking ahead to 2026, UBS anticipates that as market concerns about US fiscal sustainability deepen, central banks and investors may continue to favor real assets such as gold that have no rival risk, and demand for gold is expected to continue to grow steadily. Investment popularity in gold ETFs is also expected to remain high. However, gold prices are currently high. If the Federal Reserve unexpectedly turns hawkish or ETFs undergo large-scale redemptions, gold prices may face downward pressure. UBS warned that historical experience shows that the price of gold may enter a consolidation period after the US election and is expected to fall slightly to 4,800 US dollars/ounce by the end of 2026. If political or financial risks rise further, the price of gold is expected to rise to 5,400 US dollars. Gold is still a very attractive asset and an important risk hedging tool in investment portfolios.