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UBS lowers 2026 gold price forecast to $5,500/oz: ‘Markets are rediscovering the concept of opportunity cost’
Swiss banking giant UBS has cut its year-end 2026 gold price forecast from $5,900 to $5,500 per ounce, citing risks of persistent headwinds from elevated Treasury yields and sustained U.S. dollar strength. UBS analysts Dominic Schnider and Wayne Gordon said that investors are shying away from the yellow metal as yields stay high. “Markets are rediscovering the concept of opportunity cost, with gold’s non-yielding characteristics once again becoming a more important consideration as real rates remain elevated,” they wrote in a note. Schnider and Gordon noted that both ETF and futures demand has softened ... (full story)