‘UFGem’ is a new and distinct variety of peach tree that has an estimated winter chilling requirement of 175 chill units. The tree is of large size and is highly vigorous with a semi-upright growth habit. Flowers are showy and pink and leaf glands are small and reniform. Trees are self-fertile and regularly bear heavy annual crops of early-season fruit, which are large for its ripening season. Fruit are firm, yellow, and non-melting, clingstone flesh. Fruit are uniform, substantially symmetrical in shape, attractive, and have a bright red skin over nearly 100% of the deep yellow ground color. The fruit usually ripens 5 to 7 days after ‘UFSun’ in early May in Gainesville, Fla.