J.P. Morgan expects gold prices to reach $6,300/oz by end of 2026

NEW YORK (February 2) J.P. Morgan expects gold prices to reach $6,300 per ounce by the end of 2026, as demand from central banks and investors continues, it said in a note on Monday.

The brokerage now forecasts central-bank gold purchases at 800 tons in 2026, citing an ongoing, unexhausted trend of reserve diversification.

"Even with the recent near-term volatility, we remain firmly bullishly convicted in gold over the medium-term on the back of a clean, structural, continued diversification trend that has further to run amid a still well-entrenched regime of real asset outperformance vs paper assets," the brokerage said in a note on Monday.

Bullion fell more than 9.8% on January 30, in its sharpest one-day drop since 1983, and extended its fall on Monday, as increased CME (CME.O), margin requirements added to selling pressure.

Meanwhile, Deutsche Bank on Monday reiterated its gold price forecast of $6,000 an ounce in 2026, citing sustained investor demand for the precious metal despite an adjustment in prices.

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