金价又跌了！瑞银却上调明年年中黄金目标价，最高涨至4900美元

Core Viewpoint - The gold market is experiencing fluctuations, with recent price declines following a brief rise above $4100 per ounce, influenced by various economic factors and market sentiments [1][4]. Price Movements - On November 21, the London spot gold price fell by 1%, dropping below $4030 per ounce, before recovering slightly to $4062.65, a decrease of 0.34% [1]. - COMEX gold also saw a decline of 0.37%, settling at $4044.9 per ounce [1]. - Domestic gold prices followed suit, with Shanghai Gold Exchange reporting Au99.99 at 924.44 yuan, down 0.59% [2]. Market Analysis - Analysts suggest that the recent employment report from the U.S. indicates a mixed sentiment in the market, with both hawkish and dovish perspectives being supported [4]. - The strengthening of the U.S. dollar is attributed to speculation regarding the Federal Reserve's interest rate decisions, contributing to the current market uncertainty [4]. Future Outlook - Despite short-term pressures on gold prices, long-term demand for gold is expected to remain strong due to factors such as high U.S. debt, elevated stock valuations, and ongoing geopolitical risks [4][5]. - UBS has raised its mid-2026 gold price target from $4200 to $4500 per ounce, citing expectations of Federal Reserve rate cuts and strong demand from central banks and ETFs [4][6]. - The potential for increased gold demand is anticipated due to geopolitical uncertainties and changes in U.S. domestic policies [5][6].