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Gold prices to hit $6,300 by end of year, says JPMorgan - YAHOO FINANCE
Gold futures (GC=F) fell 0.4% to $5,203.80 a troy ounce, while spot prices slipped 0.3% to $5,175.95 at the time of writing. Spot gold has risen about 20% this year and touched a three-week high of $5,248.89 an ounce on Tuesday. The metal reached a record $5,594.82 on 29 January.
Analysts attributed the underlying strength to a combination of geopolitical tensions and policy uncertainty. “Iran-US persisting tensions and the uncertainty surrounding the global economy with [president Donald] Trump’s tariffs are a bullish catalyst,” said Carlo Alberto De Casa, external analyst at Swissquote.
The latest gains follow a surge of more than 64% in 2025 for the metal, which is widely regarded as a safe-haven investment.
JPMorgan said it remains firmly bullish on gold (GC=F) through 2026, citing a continuing structural diversification trend into the asset class with further room to run. The bank forecasts sufficient demand from central banks and investors this year to push prices to $6,300 an ounce by the end of 2026.
Gold (GC=F) has notched multiple record highs over the past year, supported by geopolitical risks, the US Federal Reserve’s interest rate easing cycle, central bank purchases and inflows into bullion-backed exchange-traded funds. Lower interest rates typically enhance the appeal of non-yielding assets such as gold.
Bank of America (BofA) said in a separate note that it sees a pathway for gold (GC=F) to reach $6,000 an ounce over the next 12 months.
