UBS forecasts gold prices will reach $2,900 per ounce by the end of 2025, driven by rising central bank and investor demand, lower interest rates, and a weaker U.S. dollar. Despite a recent decline, gold remains 28% higher year-to-date, with expectations of continued strong buying momentum amid geopolitical uncertainties. The firm anticipates central banks will purchase over 900 metric tons of gold in 2025, supporting a bullish outlook for the metal.
