JPMorgan: Gold Faces Short-Term Pressure, Could Reach $4,500 in Second Half of 2026

BlockBeats News, July 4th, JPMorgan Chase & Co. stated that the short-term gold price may be constrained by weakening demand and is expected to remain in a range-bound state. The key reasons are the diminishing purchasing power in key demand areas and gold's renewed sensitivity to changes in real interest rates, which may suppress further price increases.

However, the bank maintains a bullish view for the medium to long term. It is projected that in the second half of 2026, gold will gradually rise, with an average price of around $4300 per ounce in the third quarter and rising to approximately $4500 per ounce in the fourth quarter.

Looking ahead to 2027, JPMorgan Chase & Co. believes that the price of gold is likely to continue its upward trend. The main driving factors include ongoing gold purchases by various central banks, strengthening physical demand, and the persistent existence of long-term structural allocation demand. These factors will support the enduring appeal of gold as a safe haven and reserve asset.