$4,700 Gold on the Horizon? UBS Strategist Thinks the Rally’s Just Getting Warmed Up

All That Glitters Might Be Gold

After tapping an all-time high of $4,376 per ounce, gold took a breather and slipped to $4,233 on Sun. afternoon. Fast forward to today, and it’s strutting back up 2.48%, with each ounce fetching $4,365 as of 3:26 p.m. Eastern time. Silver’s playing sidekick, up 0.70% over the past day at $52.30 per troy ounce.

Platinum’s showing off with a 2.24% boost, while palladium’s keeping pace with a 2.69% climb. Even with gold’s recent cooldown, plenty of market watchers still expect the yellow metal to keep blasting higher—and UBS strategist Sagar Khandelwal remains convinced it’s got plenty of sparkle left in the tank.

“ Gold has risen over 60% this year, outperforming all major asset classes, with the U.S. government shutdown and renewed trade tensions injecting fresh momentum into the trade,” Kitco reported on Monday. Khandelwal stressed that Given gold’s knack for marching to its own beat—rarely syncing with stocks or bonds, especially when markets get twitchy—UBS favors “a mid-single-digit exposure to gold in a well-diversified portfolio.”

Gold’s latest rebound has investors buzzing, and with platinum and palladium also glinting brighter, the metals market is anything but dull. Analysts say the yellow metal’s independence from equities and bonds gives it a steady edge when markets wobble. For those eyeing balance and a bit of sparkle, UBS’s pitch might just be the portfolio glow-up everyone’s looking for. Khandelwal believes a fresh peak is within reach.

The UBS Global Wealth Management strategist added:

“Finally, as economic, geopolitical, and policy uncertainties remain, we expect continued flows into the yellow metal, which could spur additional gains toward our upside case of USD 4,700/oz.”