UBS on Thursday raised its 2026 mid-year gold target price by $300 to $4 500/oz on expectations of Federal Reserve rate cuts, persistent geopolitical risks, fiscal concerns and strong central bank and ETF demand. "We expect gold demand to rise further in 2026, influenced by anticipated Fed rate cuts, lower real yields, continued geopolitical uncertainties, and changes in the domestic US policy environment," UBS said in a note. The bank lifted its upside case for gold by $200 to $4 900/oz if political and financial risks spike and kept its downside case at $3 700/oz. A worsening U.S. fiscal outlook is likely to sustain ... (full story)