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UBS has raised its gold price target to $3,000 as the precious metal surges past $2,900, gaining over 11% since mid-December despite Fed hawkishness.
The rally is primarily driven by unprecedented central bank buying, which reached 1,045 metric tons in 2024 – double the 2011-2021 average.
This sustained institutional demand, combined with growing geopolitical uncertainties – including unpredictable US trade policies and Middle East developments – has strengthened gold’s appeal as a safe-haven asset.
These factors have led UBS to revise its price target to $3,000 per ounce over the next 12 months, with the bank suggesting investors consider structured investments to gain exposure to gold’s upside potential while managing downside risks.
