Gold prices are expected to continue rising, with UBS Group AG and Goldman Sachs Group Inc. both predicting a target of $2,900 per ounce by the end of next year. This optimistic outlook is driven by expectations of increased central bank gold holdings, despite potential short-term consolidation due to a stronger dollar and concerns over US fiscal stimulus possibly leading to higher interest rates.
UBS analysts, including Levi Spry and Lachlan Shaw, anticipate that after an adjustment period, bullion prices will further climb to $2,950 per ounce by the end of 2026. The market dynamics indicate a strong demand for gold as a safe-haven asset amid economic uncertainties.