New gold price forecast from JPMorgan: Expectations lowered

In an assessment by JPMorgan Global Research, it was projected that gold prices per ounce would reach an average of 6,000 dollars by the end of 2026. While the previous target of 6,300 dollars set for 2026 was lowered, the forecast for the end of 2027 was also reduced from 6,550 dollars to 6,263 dollars.

Greg Shearer, Head of Base and Precious Metals Research at JPMorgan, emphasized in his assessment of the matter that investor interest has been at low levels recently. Shearer stated, "Gold is technically stuck in a kind of uncertain zone. While prices remain above the 200-day moving average of approximately 4,340 dollars/ounce, they are for now capped below the 50-day moving average of 4,730 dollars/ounce."

According to bank officials, the slowdown in demand for gold is cited as a factor in these revisions. The assessment noted that the global economic outlook and investor behavior will continue to be decisive in the gold market in the coming period.

News Source: 12punto