JPMorgan projects gold prices to rise to record $4,000 an ounce in 2026

In their assessment of the current economic situation, JPMorgan analysts are forecasting gold prices to rise above $4,000 per ounce by the second quarter next year. This assumption is based on the expected increase in demand from investors and central banks, which are purchasing the precious metal in the amount of about 710 tons every quarter.

Given the increased trade tensions between the US and China, the bank's experts note the increased probability of recession in America, along with the growing popularity of the yellow metal against this backdrop. However, the forecast may be revised if central banks significantly reduce the volume of purchases.

As noted by Reuters, the current year has already shown a significant increase in gold prices, which reached an all-time high at $3500 per ounce. The bank estimates that by the fourth quarter, the average price will exceed $3,675 per ounce. 

As for the silver market, the analysts expect it to strengthen toward the end of 2025, despite existing concerns about industrial demand. According to their estimates, by the end of the year, silver prices will rise to $39 per ounce.