UBS(US:UBS) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-30 09:16Group 1 - Precious metals, including gold and silver, experienced significant declines, with gold falling below $5,100 and a daily drop exceeding 5% [1] - Silver saw an even steeper decline, with a daily drop of 10% [2] Group 2 - UBS raised its gold price target for March, June, and September 2026 to $6,200 per ounce, up from a previous forecast of $5,000, citing stronger-than-expected demand driven by increased investment [4] - The bank anticipates a slight decline in gold prices to $5,900 per ounce after the 2026 U.S. midterm elections [4] - The World Gold Council's report indicates that global gold demand is expected to reach a record high of 5,002 tons in 2025, with investment demand rising to 2,175 tons, which is a key driver for this increase [4][5] Group 3 - The report highlights that the core drivers of strong gold investment demand include safe-haven demand and asset diversification, influenced by high geopolitical and economic risks, a weakening dollar, and high stock valuations [5] - Expectations of interest rate cuts by the Federal Reserve also played a crucial role in the gold market dynamics for 2025 [5]