12.06.2026 16:30
Switzerland-based global financial giant UBS has lowered its gold forecasts by $300 to $900 per ounce, following strong economic data from the US and expectations that the Fed will delay interest rate cuts. The bank predicts that gold will fall to the range of $3,850 to $4,000 per ounce in the short term, while maintaining a positive outlook for the 12-month long-term view due to physical purchases by central banks.
A report that will change the balance in the gold market came from the global investment bank UBS. The bank revised its gold price forecasts downward by between 300 and 900 dollars per ounce, citing strong macroeconomic data from the US economy and expectations that the Federal Reserve (Fed) will delay its interest rate cutting process. UBS analysts assessed that rising bond yields and a strengthening dollar index will continue to put pressure on gold prices in the short term.
SHORT-TERM RANGE OF 3,850 - 4,000 DOLLARS PER OUNCE FOR GOLD
According to the assessment report published by UBS, the price of gold per ounce is likely to be suppressed in the short term, pulling back to the range of 3,850 to 4,000 dollars. According to the bank, the prolonged high interest rate environment in global markets and the strong dollar are among the key factors reducing the appeal of gold, a non-interest-bearing instrument, for investors. This situation is expected to keep selling pressure alive in the physical and cash gold market in the short term.
POSITIVE EXPECTATIONS REMAIN IN THE 12-MONTH OUTLOOK
Despite sharply revising its short-term price forecasts downward, UBS announced that it maintains its optimistic and favorable view on gold in the 12-month long-term perspective. In its report, the bank stated that after the short-term storm, the inevitable start of interest rate cuts in the coming periods, the dollar's renewed weakening tendency in global markets, and the steady physical gold purchases by central banks worldwide will support prices from the bottom in the medium term. UBS stated that these macroeconomic factors will continue to serve as strong support mechanisms for the gold market in the medium and long-term projection.