UBS gold strategist Joni Teves said she remains constructive on gold
medium-to-long term, noting prices have risen since early this week and Chinese
mainland and Hong Kong gold equities gained about 20% over three days — a
positive signal. UBS's global team forecasts gold at $4,675/oz by end-2026 and
$4,800/oz by end-2027, and continues to expect prices to rebound from current
levels before year-end. Teves flagged two near-term market catalysts: the Fed's
policy tone at the late‑July FOMC and further developments in the Middle East.
