Gold Price Jumps to Seven-Week High as Wealth Managers Remain Bullish

Gold prices have surged to their highest level in seven weeks, surpassing $4,250 per ounce, and wealth managers remain optimistic about its long-term prospects.

UBS Global Wealth Management's chief investment office believes that the medium- to longer-term case for holding gold remains strong due to lower real rates, a softer dollar, and central bank buying.

The firm expects gold prices to rise towards $5,000 per ounce in the first half of 2027 and sees a role for gold in diversified portfolios.