[JPMorgan Private Bank Predicts Gold Prices Could Reach $5,200-$5,300 by End of 2026]
JPMorgan Private Bank stated that gold prices might reach $5,200 to $5,300 per ounce by the end of 2026, representing an increase of over 25% from current levels. Alex Wolf, the bank's Global Macro and Fixed Income Strategy Head, pointed out that sustained purchases by central banks in emerging market economies are the primary driving force. Global central bank gold purchases have been a key factor in the rise of gold prices over the past two years. In October this year, gold prices hit a historic high of over $4,380, and although they have recently retreated, they have still risen by more than 50% year-to-date. Wolf added that the proportion of gold in the foreign exchange reserves of many emerging market central banks remains relatively low. While rising prices may slow the pace of purchases, the trend of accumulation continues.