According to CoinMeta, UBS ( UBS ) stated that the trend of de-dollarization is accelerating, and has raised its target price for gold to $5,400 per ounce. UBS believes that the weakness of the dollar is a structural issue, rather than a short-term fluctuation, and expects it to continue to drive capital flows into gold, commodities, and certain currencies. UBS emphasizes that the diversification of central bank reserves, especially the recent large-scale gold purchases by the People's Bank of China, may continue to support gold prices. Although tensions in the Middle East and rising oil prices could provide short-term support for the dollar, UBS still expects the dollar to depreciate in the long term. The bank noted that the US Dollar Index has fallen by 2.4% in the past month. In addition, UBS also mentioned that gold will be the biggest beneficiary of the de-dollarization trend, and expects gold prices to rise further in the coming 12 months.