The metal advanced 2.3% to settle at $4,340.70 per ounce, marking its strongest close since mid-June. Major Bank Projects $5,000 MilestoneUlrike Hoffmann-Burchardi, chief investment officer at UBS, stated in a research note that gold’s current upward momentum has fundamental backing. The investment bank’s analysts project prices will climb to $5,000 per ounce during the first six months of 2027. Year-to-date, gold prices remain essentially unchanged, following a remarkable surge of more than 65% throughout 2025. The SPDR Gold Shares ETF and comparable gold-focused investment vehicles experienced sustained inflows coinciding with the price rally.