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UBS expects gold next year September to rise to 5400 USD,4000 USD or nearby could become important support

BlockBeats news,October 12, UBS stated that although USD a stronger and rising US real interest rates are putting pressure on gold prices, and short-term speculative funds are reducing their net long positions in gold futures and options, gold ETF has continued to see inflows recently, indicating that medium- to long-term allocation demand has not disappeared.

The bank expects gold prices to find support near 4000 USD per ounce and rise to 2026 in December year, rising to 4600 USD、2027 in March year, rising to 5000 USD、June rising to 5200 USD,September reaching 5400 USD.

UBS believes that continued gold purchases by global central banks, resilient Chinese demand, and the possibility that India's festive season will boost physical gold demand will support gold prices. Meanwhile, investors' concerns about public debt, fiscal risks, and the USD long-term outlook may also increase gold's allocation appeal. However, if USD and real yields continue to strengthen, gold prices could still fall further in the short term.

Crédit Agricole expects gold prices to reach 2026 in December year, at 5000 USD per ounce. Both institutions believe that central-bank reserve diversification and market concerns that Federal Reserve policy may be affected by fiscal pressures could become drivers of gold's medium- to long-term rise.

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