COMEX gold stocks up 2186.27 oz on Sep 12 from previous day

According to the latest data from COMEX, the total gold inventory on September 12th recorded a significant increase of 2186.27 ounces, bringing the cumulative total to 38,914,490.82 ounces. In comparison to the previous day, this represents a notable rise. Looking at the weekly trend, the inventory has seen a cumulative decrease of 43,307.04 ounces, which amounts to a slight decrease of 0.11%. Over the last month, however, the inventory has experienced a cumulative increase of 292,074.39 ounces, representing a notable rise of 0.76%. Historical data indicates that since September 14th, 2022, the inventory has fluctuated between a high of 45,071,696.43 ounces and a low of 16,898,041.50 ounces, with an average value of 24,384,658.94 ounces. The current inventory of 38,914,490.82 ounces is 37.34% higher than the average.

UBS has significantly boosted its gold price forecasts, reflecting anticipated Federal Reserve easing and dollar weakness. The Swiss bank now expects gold to reach $3,800 per ounce by the end of 2025 and $3,900 by mid-2026. This upward revision is driven by geopolitical concerns and policy differences between the US administration and the Federal Reserve, as well as President Donald Trump's stance favoring lower interest rates UBS raises gold price target to $3 800/oz by end-2025^[1].

UBS also projects gold exchange-traded fund (ETF) holdings to exceed 3,900 metric tons by the end of 2025, approaching the previous record set in October 2020. The bank maintains an "Attractive" view on gold and recommends a mid-single-digit percentage allocation to the metal in global asset allocation strategies.

Meanwhile, Commerzbank has raised its gold price forecast to $3,800 per troy ounce by the end of 2026, up from its earlier projection of $3,600. The bank now expects the Fed to cut interest rates by a total of 200 basis points by the end of next year, 50 basis points more than previously assumed.

Gold, often considered a safe-haven asset during periods of economic and geopolitical uncertainty, has hit a record high of $3,673.95 and gained more than 39% year-to-date. According to the latest data from COMEX, the total gold inventory on September 12th recorded a significant increase of 2186.27 ounces, bringing the cumulative total to 38,914,490.82 ounces. Over the last month, the inventory has experienced a cumulative increase of 292,074.39 ounces, representing a notable rise of 0.76% .