JPMorgan analysts maintained their bullish view on gold on Thursday, forecasting that prices could average $5,055 an ounce by the fourth quarter of 2026.
The bank said in a report that the forecast was based on "the demand assumption that the quarterly average of investor demand and central bank gold purchases is expected to remain around 566 tonnes in 2026".
"Gold remains our most confident long allocation this year and we expect further gains as the market enters the Fed rate cut cycle," said Natasha Kaneva, head of global commodities strategy at JPMorgan.
Gregory Shearer, head of fundamental and precious metals strategy at JPMorgan Chase, pointed out that "the Fed rate-cutting cycle combined with stagflation anxiety, concerns about Fed independence, and broader currency depreciation hedges" have supported gold prices.
JP Morgan Chase: Gold prices could rise to $5,055 an ounce in 2026
2025-10-24 02:11:34
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