JP Morgan sees gold prices averaging $5,055 per ounce by late 2026

23/10/2025 Argaam
Gold bars

Gold bars

JP Morgan analysts on Thursday maintained a bullish outlook on gold, forecasting prices could reach an average of $5,055 per ounce by the fourth quarter of 2026.

 

The forecast is based on "demand assumptions that see investor demand and central bank buying averaging around 566 tons a quarter in 2026," the bank said in a note reported by Reuters.

 

"Gold remains our highest conviction long for the year, and we see further upside as the market enters a Fed rate-cutting cycle," Natasha Kaneva, Head of Global Commodities Strategy at JP Morgan, said.

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