UBS has raised its gold price forecast for mid-2026. The reasons for the increase in gold prices this year are expected to continue strong demand from investors and central banks.
Gold rose very quickly in 2025 and has since remained above $4,000 per ounce. UBS experts say their expectations have not changed. They now expect gold to hit $4,500 by June 2026, up from the previous forecast of $4,200. Although prices have stalled after a big rise in 2025, they also expect “further price increases” in 2026.
Further political tensions, and growing concerns about the US financial situation, are all expected to create strong demand for gold. One of the main reasons for UBS’s optimism is the expectation that gold ETF purchases will increase. They predict that there will be around 750 metric tons of ETF purchases in 2026, more than double the average from 2010 to 2020.
Similarly, UBS says that central bank purchases will also be strong. They are expected to buy around 900 metric tons of gold in 2026.
