UBS Sees Gold Prices Soaring to $5,000 by Mid-2027

UBS has forecast gold prices to reach $5,000 per ounce in the first half of 2027. This prediction is despite current prices being down 23% from a record high of $5,594.82 seen in late January.

Spot gold was trading at around $4,295 per ounce on Friday, August 7, 2026, after falling under pressure due to inflation concerns and expectations of higher interest rates. The conflict in the Middle East has fueled these concerns, and the U.S. Federal Reserve's decision to keep benchmark interest rates in the 3.50% to 3.75% range last week has reduced bullion's appeal.

However, UBS expects inflation to moderate gradually, allowing the Fed to maintain interest rates before resuming its easing cycle in 2027. According to Mark Haefele, Chief Investment Officer at UBS, 'periods of weakness toward $4,000/oz or below may ultimately prove to be opportunities to build strategic exposure.'