@danmo92
Major banks are raising their gold forecasts as the U.S. dollar continues to weaken.
UBS has lifted its target price for gold to $6,200 per ounce for the first three quarters of 2026 (up from $5,000 previously), projecting a pullback to around $5,900 after the U.S. midterm elections.
CIBC revised its 2026 forecast to $6,000 from $4,500, citing the “declining value of the dollar” and ongoing geopolitical uncertainty driving demand for safe-haven assets.
Goldman Sachs also raised its year-end target to $5,400, pointing to continued diversification by central banks and private investors.
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