J.P. Morgan Predicts Gold to Reach $6,300 in 2026

SadaNews - J.P. Morgan Bank predicted in a memo issued yesterday, Sunday, that the increasing demand from central banks and investors will drive gold prices to reach $6,300 per ounce by the end of 2026 – despite the decline in prices in global markets today – indicating the continued role of gold as an investment refuge amid uncertainty.

This forecast comes at a time when the precious metal continued its decline during trading today, Monday, falling to its lowest level in over two weeks, after reaching a record high of $5,594.82 per ounce last Thursday, before prices dropped due to the strength of the dollar and weakened optimism in the markets.

The bank explained in the memo that it remains convinced of its long-term optimism towards gold due to the ongoing structural shift towards real assets versus paper assets, with expectations that central banks will buy around 800 tons of gold in 2026, amid a clear trend among countries to diversify their reserves away from the US dollar.

Silver Under Scrutiny

As for silver, whose prices also plummeted after reaching an all-time high of $121.64 on Thursday, it has become difficult to identify the driving factors, which has increased J.P. Morgan's caution.

The bank stated, "We still see favorable opportunities for silver in the medium term (around $75-80 per ounce) right now compared to our previous expectations."

It added, "After outperforming in the race against gold, it is unlikely that silver will completely relinquish its gains."

Decline in Precious Metals Prices

The precious metals markets are experiencing a sharp decline in prices; gold lost more than 8% of its value in Monday's session, while silver's price dropped by more than 14%, affected by the rising dollar and investor volatility in the financial markets, amid anticipation of the U.S. Federal Reserve's policies regarding interest rates under the new nominee for the position.

Both precious metals managed to reduce their losses during today's trading.

This decline reveals sharp fluctuations in the metals during 2026 after a strong rally seen in the markets in 2025, when gold and silver performed unprecedentedly supported by interest rate cuts, profit-taking, and increasing demand as safe havens amid economic uncertainty.

Source: Reuters