JPMorgan Expects Gold Price to Reach $6,300 per Ounce by Year-End

BlockBeats News, February 5th, JPMorgan Chase expects central bank gold net purchases to reach 800 tons this year, still 70% higher than before 2022. The demand from central banks and investors this year is enough to finally push the gold price to $6,300 per ounce by the end of 2026.

JPMorgan Chase also expects the silver price to bottom out in the short term (rising to around $75-80/ounce in the next few quarters). By early next year, the silver price is expected to ultimately recover to an average of $90 per ounce.