UBS raises target to 5,000 USD/ounce
Commodity strategists of UBS (one of the largest financial - banking groups in the world, headquartered in Switzerland) have just attracted attention when forecasting gold prices to reach 5,000 USD/ounce in September 2026.
Notably, if political or economic instability in the US escalates related to midterm elections, gold prices could completely be pushed up to 5,400 USD/ounce.
The Swiss bank said it has raised its gold price target to 5,000 USD/ounce for the first three quarters of 2026, before adjusting slightly to about 4,800 USD/ounce by the end of the year - up to 500 USD higher than the old forecast of 4,300 USD/ounce.
According to UBS, gold demand in 2026 is expected to continue to increase steadily thanks to low real yields, prolonged concerns about the global economy and especially the instability in US domestic policy, from midterm elections to increasing fiscal pressure.
If political or financial risks escalate, gold prices could rise to 5,400 USD/ounce" - UBS strategist group emphasized.
Societe Generale holds 10% of gold portfolio, believes price will hit 5,000 USD/ounce
Societe Generale (one of the largest banking - financial groups in France) said that they still maintain a proportion of 10% gold in their multi-asset portfolio and reaffirmed its forecast that gold prices will reach 5,000 USD/ounce by the end of 2026.
The French bank believes that cash flow from individual investors is continuing to flow strongly into gold through gold bars, coins and ETF funds.
According to Societe Generale, the reasonable strategy in this period is to buy in when prices adjust, because central banks outside the bloc are still promoting diversification away from USD-denominated assets, while gold continues to play a shielding role against many risks, including the possibility of the US Federal Reserve (Fed) shifting to a more moderate stance after changes at the leadership level.
Wells Fargo: Gold continues to prevail, despite slowing upward momentum
Sharing the same positive view, Wells Fargo (one of the largest financial and banking groups in the US) believes that gold supporting factors will remain in 2026, helping this precious metal continue to surpass many other types of assets, although the growth rate may be slower than in 2025.
In key investment recommendations for 2026, Wells Fargo called on investors to restructure their portfolios to take advantage of the low-interest environment in the short term.
“Goods, especially gold and precious metals, can provide capital preservation in the context of persistent geopolitical risks and inflation, along with the prospect of a stable USD and continuous demand from central banks” - a Wells Fargo report said.
According to this bank, gold prices are likely to end 2026 in the 4,500 - 4,700 USD/ounce range.
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