JP Morgan sees year-end 2026 gold price at $6,300 per ounce

JP Morgan raised its gold price forecast to $6,300 per ounce by the end of 2026 in a note published Wednesday, February 25, 2026, citing growing demand from central banks and investors as the primary driver for the precious metal's appreciation. The investment bank's revised outlook represents a significant increase from previous projections, reflecting changing market dynamics and continued geopolitical uncertainties that typically boost gold's appeal as a safe-haven asset. JP Morgan also adjusted its long-term price forecast upward to $4,500 per ounce, indicating sustained confidence in gold's value proposition over the coming years. The bank's analysis suggests that central bank purchasing trends, combined with retail investor interest amid inflation concerns and market volatility, will create sustained upward pressure on gold prices through 2026. This gold forecast comes amid a broader commodities rally, with silver, platinum, and copper also experiencing price gains, influenced by tariff-related economic tensions that have increased demand for traditional safe-haven assets.