After the three-week retreat in gold prices, a remarkable prediction came from the Swiss banking giant UBS. While the bank predicts that ounce gold can reach 5 thousand 400 dollars in September 2027, this target indicates a level of 8 thousand 442 TL per gram gold with the current dollar exchange rate.
While the sharp fluctuations in the gold market in recent weeks have increased investors’ search for direction, Switzerland-based global banking giant UBS announced its long-term forecasts. Despite the three-week decline in prices, the bank maintained its positive expectations for gold and predicted a gradual rise for 2027.
The retreat, which started after gram gold exceeded 7 thousand TL and ounce gold exceeded 4 thousand 600 dollars at the end of August, entered its third week. While geopolitical developments, tension in the Middle East and economic data from the USA increased the volatility in gold prices, investors’ eyes turned again to the forecasts of large banks.
The year-end target for ounce gold is 4 thousand 600 dollars
UBS did not consider the current retreat as a development that would disrupt the long-term upward trend. The bank predicted that ounce gold, which is traded at the level of 4 thousand 300 dollars, could regain strength towards the end of the year and reach the level of 4 thousand 600 dollars in December.
