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Gold prices expected to rise toward $5,000/oz in early 2027 amid falling real rates and weaker dollar, says UBS.

Market News
13 Aug 2026
Kitco
View Source
Bullish
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UBS strategists forecast gold prices to climb toward $5,000 per ounce in the first half of 2027, driven by falling real interest rates, a weakening U.S. dollar, and strong central bank demand. Despite near-term risks from firm U.S. economic data and inflation concerns, UBS expects inflation to moderate, allowing the Federal Reserve to hold rates steady before easing in 2027. This environment should reduce real yields and boost investment demand for gold. Additionally, ongoing diversification away from the dollar and sustained central bank gold purchases, projected between 750-1,000 tonnes in 2026, will support prices. UBS advises investors to view dips below $4,000 as buying opportunities within a diversified portfolio.

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