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JPM Downgrades Gold Forecast But Remains Bullish Amid Easing Uncertainties

Guavy AI Editorial Team
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Gold
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JPMorgan Chase & Co. (JPM) has reportedly downgraded its 2026 average gold price forecast to $5,243 per ounce from an earlier estimate of $5,708.

The bank expects prices to rise towards $6,000 per ounce by the end of the year amid easing energy and inflation uncertainties.

JPMorgan also expressed caution about silver, saying the extreme tightness in physical markets that fueled the metal's recent outperformance is likely to fade.

However, despite this downgrade, JPMorgan still expects gold prices to climb by the end of 2026, supported by strong long-term bullish fundamentals and a rebound in central bank demand in the second half of the year.

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