UK Gold Market Report - 02 December 2025
The outlook for gold in the UK remains bullish into 2026, supported by strong structural demand, macroeconomic uncertainty, and potential US rate cuts. While short-term fluctuations occur, the medium-term trend is expected to be upward with possible price appreciation around 10%.
- Resilient official-sector demand
- Persistent macroeconomic uncertainty
- Ongoing de-dollarisation
- Expectations of US interest rate cuts
- Lower inflation in Europe reducing ECB rate cut expectations
Gold price in the UK is currently £2,490.14 per ounce with a weekly decline of 0.56% but a strong overall upward trend over recent months.
Gold prices have risen approximately 60% year-on-year in USD terms, reaching record highs in late 2025.
UBS forecasts gold prices to remain elevated through 2026 with an average price target of around $4,675/oz, implying about 10% upside from current levels.
The outlook for gold in the UK remains bullish into 2026, supported by strong structural demand, macroeconomic uncertainty, and potential US rate cuts. While short-term fluctuations occur, the medium-term trend is expected to be upward with possible price appreciation around 10%.
Half Sovereign
£402.10
at BullionByPost
Gold Sovereign
£793.30
at BullionByPost
Double Sovereign
£1605.00
at BullionByPost