Gold may surge to $6,300 by year-end: JP Morgan
What's the story
JP Morgan has revised its long-term gold price forecast, now predicting a value of $4,500 per ounce and potentially as high as $6,300 by the end of 2026. The revision comes in light of sustained institutional demand and portfolio diversification trends. The bank remains bullish on gold prices through 2026 due to continued buying from central banks and investors.
Market factors
Factors driving gold's price surge
JP Morgan has attributed gold's price surge over the past year to a combination of geopolitical uncertainty, expectations of policy easing by the Federal Reserve, sustained central bank purchases, and inflows into bullion-backed exchange-traded funds. The bank expects aggregate demand this year will support prices and could push gold toward $6,300 per ounce by late 2026.
Silver forecast
Bank of America predicts $6,000 gold price in a year
In a separate note, Bank of America has predicted that gold could hit $6,000 per ounce in the next 12 months. However, it warned that silver may face additional near-term pressure before regaining momentum. Spot silver was trading at around $90.7 per ounce on Wednesday, down from its record high of $121.64 an ounce in late January.