Gold Price Predictions: UBS Sees $5K/Ounce

0:00It's April 6th. This is Durham News Today, powered by AI. I'm Cory with the story. Gold had a brutal march. It's worse since 2008, but UBS is staying bullish. They're calling for average prices to hit $5,000 per ounce in 2026, around 4,820. 27, and 4,250 in 2028. Even with that dip, they see big upside ahead. April kicked off strong, with spot gold rebounding over 3% on March 31st, to $4,652 an ounce. Then jumping to $4,784 on April 1st. But it tanked April 2nd as the dollar strengthened, oil spiked past $100, and inflation fears returned amid Middle East tensions. Wall streets mostly on board, with JP Morgan I. Using 6,300 by end of 2026, Deutsche Bank at 6,000, and Goldman Sachs at 5,400, UBS says

1:00the pullback is just a reset, creating buying chances as global growth worries could spark stimulus and lower real rates. Central banks keep scooping up gold, netting 19 metric tons in February alone, while ETF saw $5.3 billion in inflows, pushing holdings to a record 4,171 tons. Sanders traders trimmed bets, but stayed net long at over 163,000 contracts. Upcoming Fed Minutes on April 8th, CPI on April 10th, and jobs data, May 8th, will test this. Software numbers could boost rate cut hopes and lift gold higher. Keep watching those dips as potential entry points.