JPMorgan Chase: Lowers Q4 Gold Price Forecast to $4500 per Ounce

BlockBeats News, July 6th, JP Morgan turned conservative on the short-term outlook for gold, lowering its price forecast for Q4 2026 by 25% to $4,500 per ounce. Previously, the bank had a target price of around $6,000. At the same time, it expects the average gold price for Q3 this year to be $4,300.

This adjustment is mainly due to weakening demand from the key gold purchasing sector. Coupled with gold's heightened sensitivity to real interest rate fluctuations, the short-term upside is limited. The institution predicts that the gold price will remain range-bound in the second half of the year, awaiting an improvement in the macroeconomic environment before experiencing a recovery.