JPMorgan expects softer buying from key demand sectors and gold's renewed sensitivity to real yields to keep prices range-bound near term. The bank still sees a recovery in the second half of 2026, with gold averaging $4,300/oz in the third quarter and $4,500/oz in the fourth, and further gains in 2027.
JPMorgan said on Friday that softer buying from key demand sectors and gold's renewed sensitivity to real yields could keep prices range-bound in the near term.
That caution sits alongside a firmer medium-term call. The bank expects a recovery in the second half of 2026, with prices averaging $4,300/oz in the third quarter and $4,500/oz in the fourth.
Central bank buying underpins the 2027 view
Beyond next year, the bank retained a long-term bullish view. It said gold could extend gains in 2027 as central bank purchases and physical demand strengthen amid enduring structural drivers of accumulation.
The bank's message splits by timing: a near-term ceiling, then a rebound it expects to carry into 2027.
Sources: Investing.com, KELO-AM
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