Swiss bank UBS has predicted that gold prices will reach $5,000 per ounce in the first half of 2027. The bank believes that the supporting factors for the precious metal remain robust in the medium to long term, despite potential short-term volatility.
According to UBS, "Although short-term conditions may remain volatile, the medium to long-term outlook for gold is still supported by several sustainable factors," as reported by Reuters.
This forecast follows gold's gains of over 5 percent since the beginning of the week, benefiting from the relative decline in oil prices and reduced inflation concerns. Meanwhile, investors are keenly watching U.S. labor market data for signs on the future direction of interest rates.