JPMorgan: Gold under short-term pressure, may surge to $4,500 in the second half of 2026

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BlockBeats News, July 4th - JPMorgan stated that in the short term, gold prices may be constrained by weaker demand, and overall they will remain range-bound. The main reasons are the weakening purchasing power in key demand areas and gold's renewed sensitivity to changes in real interest rates, which could suppress further price increases.

However, the bank maintains a bullish view for the medium to long term. It expects gold to gradually recover in the second half of 2026, with an average price of around $4,300 per ounce in the third quarter, rising to about $4,500 in the fourth quarter.

Looking ahead to 2027, JPMorgan believes gold prices are likely to continue their upward trend, driven by ongoing central bank purchases, increased physical demand, and persistent long-term structural allocation needs. These factors will support gold's long-term appeal as a safe-haven and reserve asset.

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