J.P. Morgan stated in a letter on Monday that it anticipates gold prices to reach $6,300 per ounce by the end of 2026 due to ongoing demand from investors and central banks.
The brokerage now anticipates central bank gold purchases at 800 tonnes in 2026, citing a continuous, unexhausted trend of reserve diversification.
“Even with the recent near-term volatility, we remain firmly bullishly convinced 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 stated in a Monday note.
Bullion plunged more than 9.8% on January 30, in its largest one-day drop since 1983, and extended its fall on Monday, as increased CME margin requirements added to selling pressure.
In the meantime, Deutsche Bank reaffirmed its 2026 gold price prediction of $6,000 per ounce on Monday, noting persistent investor appetite for the precious metal in spite of price adjustments.
