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UBS raises upside case for gold to $4,900/oz by Q2 2026 on political and financial risks
UBS has raised its 2026 mid-year gold target price to $4,500/oz – up from $4,200 previously – on Fed rate cut expectations, persistent geopolitical risks, fiscal concerns and strong demand from central banks and ETF investors. “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 wrote in a note on Thursday. The bank also raised its upside target for gold by $200 to $4,900 per ounce on a possible spike of political and financial risks, but maintained its downside ... (full story)