Multiple price adjustments within two months! UBS heavy report: The extreme high point of the gold price can reach $5400.

UBS (UBS) has once again significantly raised their gold price expectations this week, emphasizing that gold will continue to rise due to factors such as global economic concerns, US fiscal pressures, and political uncertainties. The Swiss banking giant has frequently adjusted their expectations in less than two months. In their latest report, UBS announced that they have raised their gold price target for the first three quarters of 2026 to $5000 per ounce. Additionally, if there is further political or economic turmoil related to the US midterm elections, analysts predict that the price of this precious metal may rise further to $5400, with the previous upside risk expectation being $4900. Furthermore, UBS commodity strategists also predict that by the end of 2026, the price of gold will fall to $4800 per ounce, which is $500 higher than their previous forecast of $4300 per ounce. UBS believes that, with low real yields, continued global economic concerns, and domestic policy uncertainties in the United States (especially related to the midterm elections and increasing fiscal pressures), gold demand will steadily increase in 2026. The strategists wrote in their report: "If political or financial risks escalate, the price of gold could rise to $5400 per ounce (previously expected to be $4900 per ounce)."