UBS Projects Gold to Hit $4,675 Per Ounce in 2026 After Weekly Rebound

According to UBS, gold prices rebounded this week, with Hong Kong and mainland gold stocks rising about 20% in three days. The Swiss bank projects gold to reach $4,675 per ounce in 2026 and $4,800 per ounce in 2027, citing improved investor sentiment driven by softer U.S. non-farm employment and inflation data. UBS noted that gold has found support near the $4,000 level in recent trading.

UBS gold strategist Joni Teves stated that portfolio diversification remains a key driver of gold demand amid persistent macro uncertainty, while central banks' continued reserve diversification—including China's People's Bank increasing holdings in June—will provide ongoing price support.