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J.P. Morgan lowers 2026 gold outlook
JPMorgan has cut its gold price forecast for 2026 by 25%, expecting an average price of $4,300 per ounce in the third quarter and $4,500 in the fourth quarter, down from its previous prediction of reaching $6,000 by the end of the year. This comes amid a decline in demand for gold, as its price sensitivity to rising real interest rates increases, reducing the momentum of previous gains and narrowing the potential rise of the precious metal in the coming months. Nonetheless, the outlook still suggests that gold will remain at historically high levels compared to the past, supported by factors such as monetary policies and inflation effects.
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