JPMorgan forecasts that by the end of 2026, the gold price will reach $6,300 per ounce, and has simultaneously raised its long-term target price expectations.

According to Reuters on February 25, the internationally renowned investment bank JPMorgan released a new report predicting that the gold price will climb to $6,300 per ounce by the end of 2026.

At the same time, the bank has also raised its long-term gold price forecast to $4,500 per ounce, demonstrating its firm bullish stance on the medium- to long-term trend of the gold market.

JPMorgan explicitly stated in the report that the key driver pushing the gold price to $6,300 by the end of 2026 will be the sustained strong demand from central banks and investors worldwide this year.

In fact, this is not the first time the bank has raised its gold price target. In early February, JPMorgan already adjusted its previous target upward. This recent increase and further reaffirmation of its long-term target price also strengthen market expectations for bullishness on gold.

Analysts believe that continuous gold purchases by central banks are one of the critical supporting factors for JPMorgan’s bullish outlook on gold. JPMorgan expects that the demand for gold from central banks globally and the trend of diversification of foreign exchange reserves will continue to provide solid support for gold prices through 2026.

In addition to central bank demand, a surge in investor demand has also become another core force driving up gold prices. These phenomena indicate that gold, as a key tool for hedging macroeconomic and geopolitical risks, is gaining increasing favor among investors.

Moreover, gold ETF holdings are also steadily increasing, coupled with persistent strong demand for gold bars and gold products, showing that overall market investment demand has exceeded the bank’s previous price target expectations.

Regarding the sustainability of further gold price increases, JPMorgan concludes that short-term volatility does not alter the upward trend, and the core logic supporting higher gold prices remains solid.

The report also suggests that the current market has not yet reached the limits that would trigger structural increases in gold prices, and the overall environment remains favorable for gold’s medium- to long-term trajectory.

#摩根大通 #Gold Price