UBS bets gold to reach $5,000/oz by mid-2027

UBS expects gold to climb to $5,000 per ounce in the first half of 2027, though near-term risks remain as Middle East tensions and inflation concerns influence markets. Spot gold hovered around $4,295/oz, having fallen about 23% from a January record. The Fed left rates at 3.50%–3.75%; UBS sees inflation moderating gradually, keeping rates on hold this year and resuming a easing cycle in 2027, with weakness toward $4,000/oz potentially a buying opportunity.