UBS(US:UBS) 智通财经网·2025-12-30 07:43Core Viewpoint - UBS has significantly raised its gold price forecast, citing global economic concerns, U.S. fiscal pressures, and political uncertainties as driving factors for continued gold price increases [1] Group 1: Price Forecast Adjustments - UBS has adjusted its gold price target for the first three quarters of 2026 to $5,000 per ounce, a notable increase from previous estimates [1] - In the event of heightened political or economic turmoil related to the U.S. midterm elections, analysts predict gold prices could rise further to $5,400 per ounce, up from an earlier forecast of $4,900 [1] - By the end of 2026, UBS expects gold prices to decline to $4,800 per ounce, which is $500 higher than the previous forecast of $4,300 [1] Group 2: Demand Drivers - UBS anticipates steady growth in gold demand in 2026, supported by low real yields, ongoing global economic concerns, and uncertainties in U.S. domestic policy, particularly related to midterm elections and increasing fiscal pressures [1] - The report emphasizes that if political or financial risks escalate, gold prices could potentially reach $5,400 per ounce, reflecting a revision from the earlier expectation of $4,900 [1]