Popular Swiss Bank resets gold price target for the rest of 2026

Gold has pulled backmost sharply from its January highs. Union Bancaire Privée (UBP) is not moved. It’s not bulging.

The Swiss backstage bank, which manages astir $233 cardinal successful lawsuit assets, reaffirmed its $6,000 per ounce golden terms people connected April 13, adjacent arsenic golden trades astir 15% beneath its January all-time precocious of astir $5,600. The slope is besides actively rebuilding its golden positions aft cutting vulnerability during the Iran warfare selloff.

UBP chopped its golden allocation from astir 10% to 3% of discretionary lawsuit portfolios during the Iran war-driven slump, according to FinanceMagnates. It has since rebuilt that presumption to astir 6%.

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"We person taken the archetypal steps to rebuild golden portfolios aft the flush-out of one-sided positions," said Paras Gupta, Head of Discretionary Portfolio Management Asia astatine UBP.

Gupta said that organization and retail golden positioning is present "quite balanced" and that structural demand, including cardinal slope buying, fiscal-deficit concerns, and geopolitical tensions, remains intact, according to FinanceMagnates.

The $6,000 people is not based connected a azygous catalyst. UBP sees a operation of stagflation risks, persistent geopolitical uncertainty, and continued cardinal slope request arsenic the foundations for a betterment and further determination higher, according to Exchange Rates.

Central banks globally are expected to acquisition astir 950 metric tons of golden successful 2026. Poland precocious raised its golden holding people to 700 metric tons from 550 metric tons, a determination that signals increasing organization appetite for the metal.

Global golden ETF holdings deed a grounds 4,171 tonnes successful February 2026. Total golden request successful 2025 exceeded 5,000 metric tons for the archetypal time, driven by a leap successful ETF holdings, cardinal slope accumulation, and barroom and coin purchases, according to World Gold Council information cited by Investing.com.

UBP is not the lone instauration with a bullish year-end golden target, but it is among the astir aggressive. Institutional year-end forecasts present clump betwixt $5,400 and $6,300, according to FinanceMagnates.

JPMorgan raised its end-2026 golden forecast to $6,300. Deutsche Bank and Societe Generale some people $6,000, with Societe Generale informing its forecast whitethorn beryllium conservative. ANZ raised its Q2 2026 forecast to $5,800 per ounce, up from $5,400, according to Scottsdale Bullion.