JP Morgan lowers 2026 average gold price forecast
JP Morgan has cut its 2026 average gold price forecast to $5,243 per ounce from $5,708.
The bank maintained its year-end target of around $6,000 per ounce, citing an expected re-acceleration in demand in the second half of 2026.
The reduction in the full-year average price estimate reflects softer price realization in the opening months of 2026.
JP Morgan expects the pace of gold’s appreciation to increase materially as the year progresses, driven by a demand pickup.