Gold and silver prices surge straight up! UBS raises the target price for gold to $6,200

CryptocurrencySniper · 2026-02-23T00:42:37+00:00

On February 23rd, gold and silver prices rose due to tense Middle East tensions. The United States deployed a large number of fighter jets in Jordan, and Trump may launch strikes against Iran. Iran's foreign minister stated that diplomacy is the only way to resolve the nuclear issue. UBS raised its gold price forecast to $6,200, and the probability of a Federal Reserve rate cut is low.

CryptocurrencySniper

2026-02-23 00:42:37

Abstract generation in progress

On February 23, gold and silver opened sharply higher. As of the time of writing, international spot gold increased by 0.67%, trading at $5,145.519 per ounce; spot silver broke through $86 per ounce, with intraday gains expanding to 2%.

In terms of news, tensions in the Middle East continue to escalate. Satellite images show a surge in U.S. fighter aircraft in the region. The U.S. has deployed more than 60 military aircraft at Al Muwafaq Salti Air Force Base in Jordan, which could become a key hub for potential U.S. strikes against Iran.

According to The New York Times, Trump is inclined to launch the first wave of strikes against Iran in the coming days. If the initial strikes are ineffective, Trump may consider larger-scale attacks on Iran.

On the 22nd local time, Iranian Foreign Minister Amir Abdollahian stated in an interview that diplomacy is the only way to resolve Iran’s nuclear issue. Abdollahian said Iran is drafting specific details and proposals for an agreement, and may meet with U.S. envoy Witterkoff in Geneva on Thursday (the 26th). Achieving a “better agreement” than the 2015 Iran nuclear deal is possible, he emphasized, while also reaffirming Iran’s right to peaceful nuclear energy.

Additionally, UBS released its latest “Internal View” report, raising the target price for gold to $6,200 per ounce, mainly driven by geopolitical risks and favorable macroeconomic conditions.

Regarding Federal Reserve rate cuts, according to CME’s “FedWatch”: the probability of the Fed cutting rates by 25 basis points by March is 4.1%, while the probability of holding rates steady is 95.9%.

(Source: eCompany)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes