It seems that the bullish metal rally will not stop anytime soon, with UBS predicting a new price path for gold altogether for 2026. The firm has now updated its gold price outlook for 2026, predicting how the metal can easily hit $5000 to $5600 by Q3 2026, due to specific economic conditions prevalent in the US.
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UBS Gold Price Updated: $5400 In Sight?
In a new UBS Note, the firm has once again updated its gold price outlook for 2026. UBS now predicts gold to hit $5000 by Q3, 2026. The Swiss banking giant, however, was quick to add a new forecast, stating how the rising geopolitical tensions, if prolonged, may end up pushing gold to explore the ambitious $5400 price level.
“If political or financial risks increase, the gold price could climb to $5,400 per ounce (previously expected at $4,900 per ounce),” the strategists wrote in the report.”
UBS had earlier shared its stance on gold futures, adding how their demand will steadily increase due to upcoming rate cuts and bond yield narratives.
“Gold has recently recouped part of the decline from late October, and we expect rising demand for the precious metal to support higher prices ahead,” wrote the Chief Investment Office of UBS. “Further interest rate cuts by the Federal Reserve, lower real yields, increasing fiscal risks, and changes in the domestic US political environment should extend the current strong buying trends of central banks and investors, in our view.”
Gold Price To Soar, But Not Now Without A Pullback
UBS later shared a detailed analysis, stating how gold may enter into a temporary consolidation in 2026, dropping as low as $4800 in mid-2026, only to rise again to explore $5000 later.
Per Rashad Hajiyev, a leading metal expert, gold is showing signs of a possible ascent, matching UBS’s prediction of it claiming $5K steadily in the near future. However, Hajiyev believes gold has more room to grow, predicting an $8k price level for the asset by the end of 2026.
“Gold vs Silver Cup & Handle Formation breakout… Gold broke out from its 13-year cup & handle formation in March 2024, which resulted in 115% gain in less than 2 years. Furthermore, gold has a long way to go and likely to reach $8k by the end of the 2026. If gold more than doubled in less than 2 years out of 13-year formation, imagine how much potential silver has after breaking out from a 45-year cup & handle formation. Silver is in the first month of its breakout and already up better than 40%. I expect silver to trade in multiples from the present price level by the end of the 2026.”
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