Gold could feature another rally, with Swiss banking giant UBS forecasting that it could climb to $5,000 per ounce by the first half of 2027. UBS said the breakout signals renewed momentum and reflects strong underlying demand for the precious metal. UBS said central banks are likely to remain among the biggest buyers of gold as countries continue diversifying their foreign exchange reserves away from traditional assets. When bond yields decline, the opportunity cost of holding bullion falls, making it more attractive to investors seeking portfolio diversification or protection against economic uncertainty, Reuters reported. If those trends continue, UBS said gold is well positioned to extend its rally and reach $5,000 an ounce during the first half of 2027.