According to ExchangeRates, gold has risen by 8.3% since the beginning of the month, after falling earlier in August to about $4,024, before rising to a level of $4,443.
But UBS’s forecasts go beyond the current recovery. The bank expects gold to reach $4,400 in September 2026, then $4,600 in December, before reaching $5,000 in March 2027 and $5,200 by June 2027.
These expectations do not indicate an immediate jump. At current prices, the September target appears very close to the current level, which means that “UBS” expects a phase of stability or consolidation before a new rising wave later.
The most important movement, according to the expected path, begins towards the end of the year. Gold reaching $4,600 in December will place it above the August trading range, while reaching $5,000 in March will return it to levels seen during the sharp fluctuations at the beginning of 2026.
Although the expectation of $5,200 seems large, it does not mean recording an unprecedented level. Gold had previously exceeded this number in January 2026, when it reached a peak near $5,594, before it later fell strongly to below $4,000 in June.
Therefore, the report believes that UBS’s expectations are not based on a new crazy rise, but rather on a gradual return towards the upper part of the current year’s range after the deep correction that followed the peak of the first quarter.
