JPMorgan Forecasts Gold Prices to Reach US$6,300 by 2026
JPMorgan projects that gold prices could surge to US$6,300 by the end of 2026, supported by sustained strong demand from central banks and global investors.
Quoted by Reuters, the investment bank estimates that global central bank gold purchases will reach around 800 tonnes this year. This outlook is based on the ongoing trend of foreign reserve diversification, which JPMorgan believes shows no clear signs of slowing.
According to JPMorgan, gold demand remains resilient despite short-term market volatility. The bank views gold as a leading medium-term asset amid a structural shift away from paper-based financial assets toward real assets.
“While short-term volatility may persist, we remain highly constructive on gold over the medium term, driven by a clean and ongoing structural diversification trend, within a regime where real assets continue to outperform paper assets,” JPMorgan said.
The forecast underscores gold’s growing role as a safe-haven asset amid global economic uncertainty, evolving monetary policy frameworks, and efforts by several countries to reduce reliance on major reserve currencies.