# Gold Rally Isn't Over—UBS Sees $4,200-$4,700 in Sight

That recent dip in gold prices? Just noise, according to UBS analysts.

The Swiss banking giant just dropped a research note saying the correction happening right now is temporary. Their base case: gold hits **$4,200/oz**. But here's the juicy part—if geopolitical tensions spike or markets hiccup, they're calling for a surge to **$4,700/oz**.

**What's actually going on:**

UBS stressed there's zero fundamental reason for the recent selloff. It's pure technical stuff—weakening momentum triggered a second wave of futures liquidation. That's it.

But underneath all that noise? Demand is still firing on all cylinders. Central banks and retail investors keep stacking, and the World Gold Council's latest quarterly report confirms it. The buying pressure is real.

**The takeaway:** Current dip looks like a buying opportunity, not a reversal. Long-term thesis for gold remains intact.