UOB’s Global Markets & Economics Research team has released its economic forecast for the third quarter of 2026, focusing on gold prices. The report indicates a period of consolidation around $4,500 per ounce is expected in the short term, which UOB deems crucial and necessary. This phase is anticipated to allow for a subsequent recovery in gold’s value. While short-term fluctuations are predicted, the long-term outlook remains positive for gold. UOB believes this consolidation will set the stage for renewed price increases. The forecast provides insight into the bank’s expectations for the precious metal’s performance over the coming months and years. This analysis is based on their broader economic projections for the region.