UBS Sees Gold Soaring to $5,200 by June 2027

The gold price has been recovering sharply in August, but according to UBS's forecast, bullion is expected to reach $5,000 by March 2027 and $5,200 by June of that year. The current price of gold is around $4,376, which is a gain of 8.3% so far this month.

UBS's forecast suggests that gold will consolidate around its current levels before another leg higher develops later in the forecast period. The bank expects gold to reach $4,400 by September 2026, followed by $4,600 in December, and then break above its recent trading range.

The forecast assumes that the deep correction from the first-quarter peak will eventually give way to a renewed climb back towards the upper part of this year's range. This means that gold does not need to make unprecedented new highs from here to reach UBS's target prices.