<div id="readability-page-1">Bear market return: Gold has fallen more than 25% from January’s record, entering its first bear market since 2022 amid stronger U.S. data and rate-hike bets. UBS price downgrade: UBS cut its near-term gold target to $3,850–$4,000, warning of further weakness before a potential rebound. Long-term supports: UBS cites sustained central bank buying and potential dollar weakness as reasons to stay positive on gold over the next year.</div>

SGOL

GLDM

518850

USDU

<p>UBS has lowered its near-term gold price target to $3,850–$4,000, citing pressure from a stronger U.S. dollar and Federal Reserve rate-hike expectations. Gold has entered a bear market, falling over 25% from January's record. Despite the short-term weakness, UBS remains positive on gold for the next year, supported by sustained central bank buying and potential dollar depreciation.</p>

UBS Group AG

SPDR Gold Shares

Abrdn Gold ETF Trust

SPDR Gold Minishares

Pro Ultr GLD

ETFS Capital Ltd.

ChinaAMC Gold ETF

Wtree Bbg Usd Bull

iShares Gold Trust

Invesco DB US Dollar Index Bullish Fund

UBS cuts gold target as Fed outlook pressures prices