As the USD weakens and the market becomes volatile, gold has emerged as one of the strongest assets this year. Analysts expect this trend to continue. UBS forecasts that gold prices could rise to $4,900 by 2026, supported by several factors: expectations of Fed rate cuts, declining real yields, prolonged geopolitical tensions, and growing skepticism about the stability of the USD.
This upward momentum is further bolstered by record ETF inflows, with $17 billion flowing in during September and $26 billion in the quarter, according to the World Gold Council. Central banks are also continuing strong purchases to diversify reserves. Some experts, including Rashad Hajiyev, even suggest that gold is poised to break out to $5,000. Amid weakening US fiscal conditions, the appeal of gold continues to rise.
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