Bloomberg News: Gold Prices Seen Topping $5,000 by End of 2026, JPM Private Says
Article by Yvonne Yue Li in Bloomberg News
Gold’s scorching rally is likely to take prices above the $5,000 an ounce mark next year, driven mainly by buying from central banks in emerging-market economies, according to J.P. Morgan Private Bank.
Prices could reach $5,200 to $5,300 by the end of 2026, Alex Wolf, the firm’s global head of macro and fixed income strategy, said in an interview. That would be more than 25% higher than where the metal is currently trading.
Purchases from central banks have been a key driver in bullion’s ferocious run over the past couple years as policy makers sought a store of value and asset diversification.
Prices reached record highs above $4,380 in October before pulling back in recent weeks. The precious metal is still up more than 50% this year.
Gold as part of “forex reserves is still ......