According to CoinMeta, analysts at UBS stated that the upward trend of gold is “supported” and they expect the price of gold to rise to $5,000 per ounce next year. Recently, gold futures rose by 2% on Friday as a weaker-than-expected monthly employment report reduced the likelihood of the Federal Reserve raising interest rates this year. Over the past five trading days, gold prices have increased by more than 8%. This rise has been mainly driven by increased purchases by Chinese investors and a continuous inflow of exchange-traded funds (ETFs). The recent measures taken by the United States and Japan to support the Japanese yen have also alleviated concerns about selling off U.S. Treasury bonds, which usually puts pressure on precious metals. Ulrich Hoffmann-Burchardi, UBS’ Chief Investment Officer, said that inflation is expected to gradually ease, allowing the Federal Reserve to maintain stable interest rates this year, with interest rate cuts expected to resume in 2027. This will create a more favorable environment for gold, reduce real yields, suppress the dollar, and increase the demand for gold investment.