UBS strategists are optimistic about the medium-term outlook for gold, expecting a rebound before year-end, and are keeping an eye on the Federal Reserve meeting and the situation in the Middle East.

智通财经2026/07/23 06:31

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UBS gold strategist Joni Teves remains optimistic about the medium and long-term trend of gold. She points out that since the beginning of this week, gold prices have continued to rise, with gold stocks in mainland China and Hong Kong accumulating an increase of about 20% over three trading days. This is viewed as a positive signal of improved market confidence.

She stated that confidence in gold is recovering in the market. UBS's global team maintains a medium-term bullish stance, forecasting that gold prices will reach $4,675 per ounce by the end of 2026 and $4,800 per ounce by the end of 2027.

Next, she believes the key catalysts to focus on include: the policy tone of the Federal Reserve's FOMC meeting at the end of July, as well as further developments in the geopolitical situation in the Middle East.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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UBS strategists are optimistic about the medium-term outlook for gold, expecting a rebound before year-end, and are keeping an eye on the Federal Reserve meeting and the situation in the Middle East.

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