JPMorgan: Gold Could Hit $4,000 an Ounce by 2026 Amid Geopolitical Tensions and Strong Demand
Gold prices continue to be the focus of attention in the global financial market as JPMorgan – one of the world’s leading investment banks – has just made an ambitious forecast: the precious metal could hit $4,000 an ounce by the second quarter of 2026.
In an analysis report published on Tuesday, JPMorgan asserted that the gold market is in a major bull run that is likely to last for at least another year. This forecast is based on many macro factors, including the deteriorating global trade environment, rising geopolitical tensions, as well as strong demand from individual investors and central banks.
“We note that gold demand from central banks and investors remains strong, averaging around 710 tonnes per quarter this year. This is a key factor in strengthening our target of a gold price of $4,000/ounce next year,” JPMorgan experts said.
Gold has recently reached several historical peaks, surpassing the $3,500/ounce threshold on April 22 before slightly correcting below $3,300. However, analysts say this is just a necessary pause in a long-term price increase cycle, as gold’s role as a safe-haven asset continues to be reinforced.
In addition, JPMorgan warned that there are still scenarios that could limit gold’s rise. This includes the possibility of the US Federal Reserve (Fed) suddenly changing its policy, raising interest rates to deal with inflation – something that is not expected by the market at the moment.
“If the US economy maintains strong growth despite tariff and inflation pressures, the Fed may act more aggressively in tightening monetary policy. At that time, gold may face significant adjustment pressure,” JPMorgan’s report emphasized.
JPMorgan’s optimistic forecast is also in line with many comments from other major financial institutions. Recently, Goldman Sachs also raised its gold price target, predicting that gold could reach $3,700 by the end of 2025 and rise to $4,000 by the third quarter of 2026, thanks to the increasingly prominent role of gold in the context of global economic uncertainty and the risk of recession.
Amidst the endless fluctuations in financial markets and geopolitics, gold continues to affirm its solid position as a “defense wall” against macro risks. And if these predictions come true, the market could witness a new era for the world's oldest precious metal.