Reuters: JP Morgan Sees Gold Prices Crossing $4,000/oz By Q2, 2026
Article by Angelika Warmuth in Reuters
JP Morgan sees gold prices crossing the $4,000 per ounce milestone next year, following increased recession probabilities amid boosted U.S. tariffs and an ongoing U.S.-China trade war, the bank said in a note on Tuesday.
The bank now expects gold prices to reach an average of $3,675/oz by 4Q25, on the way towards above $4,000/oz by 2Q26, with risks skewed towards an earlier overshoot of these forecasts if demand surpasses its expectations.
"Underpinning our forecast for gold prices heading towards $4,000/oz next year is continued strong investor and central bank gold demand averaging around 710 tons a quarter on net this year," the bank noted.
Spot gold, which has gained 29% and hit 28 record highs this year, touched the $3,500 per ounce milestone for .....