JPMorgan: Lowered Q4 gold price forecast to $4,500/oz.

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BlockBeats news, July 6 - JP Morgan has turned conservative on the short-term outlook for gold, lowering its gold price forecast for the fourth quarter of 2026 by 25% to $4,500 per ounce, compared to its previous target of around $6,000. At the same time, the bank expects the average gold price for the third quarter of this year to be $4,300.

This adjustment is mainly driven by weakening demand in the major gold purchasing sectors, coupled with gold prices becoming more sensitive to fluctuations in real interest rates, which suppresses short-term upside. The institution expects gold prices to remain range-bound in the second half of the year, with a recovery only after macroeconomic conditions improve.

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