Big boys gold price target - UBS15 Apr 2026 07:25
As of April 2026, UBS holds a bullish outlook for gold, forecasting a peak of $6,200 per ounce for the first three quarters of 2026 (March, June, and September), up from their prior $5,000 estimate. Prices are expected to moderate slightly to $5,900 per ounce by late 2026 following U.S. midterm elections.
Key Drivers for 2026 Target
Strong Central Bank Buying: UBS expects robust global central bank purchases of around 950 metric tons in 2026.
Monetary Policy: Expectations of Federal Reserve rate cuts (25-basis-point reductions) to lower real interest rates.
Macro Risks: Geopolitical uncertainty, high debt levels, and the role of gold as a portfolio hedge against inflation and economic slowdown.
Investment Demand: High ETF inflows (reaching 4,171 tonnes in Feb 2026) and persistent retail demand for bars and coins.
UBS notes a potential upside scenario of $7,200, though this is tempered by potential near-term corrections as prices consolidate.