UBS sees dip buyers stepping in to support gold at this level

What happened: UBS strategist Giovanni Staunovo said gold may retest support around $4,000 an ounce near term, with structural dip buyers expected to establish a floor at that level. Key numbers: Support around $4,000/oz. UBS expects annual central bank buying of 750 to 1,000 metric tons. Why it matters: UBS said gold's sensitivity to real rates has weakened, with structural demand offsetting higher yields, and expects lower real yields to lift prices toward year-end and into 2027.

UBS strategist Giovanni Staunovo said gold may retest support around $4,000 an ounce near term, with structural dip buyers expected to establish a floor at that level.

UBS said gold's sensitivity to real rates has weakened, with structural demand offsetting higher yields, and expects lower real yields to lift prices toward year-end and into 2027.