UBS forecasts gold will reach $2,900 an ounce by the end of next year, aligning with Goldman Sachs" prediction of $3,000, driven by central bank purchases and geopolitical tensions. Despite a potential consolidation phase due to a stronger dollar, ongoing strategic allocations and high macro volatility are expected to support prices. Currently, spot gold is trading near $2,630 an ounce, having risen 28% this year.