JPMorgan Lowers 2026 Gold Price Forecast but Stays Bullish on Long-Term Outlook

Deep News13:30

JPMorgan has revised its average gold price forecast for 2026 down to $5,243 per ounce from $5,708, citing softening short-term demand. Analysts from the bank noted in a report that the subdued activity is reflected in stagnant trading and demand indicators. Total open interest and trading volume for COMEX gold futures have remained low, with managed money net positions lingering near minimal levels and ETF inflows staying modest.

Despite the downward adjustment, the bank maintains a bullish outlook, anticipating that gold prices will climb to $6,000 per ounce by the end of 2026 as demand strengthens in the second half of the year. The analysts stated, "We retain our medium-term bullish view and expect demand from both investors and central banks to pick up again in the latter half of 2026, once significant energy and inflation uncertainties subside."

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment