J P Morgan Raises Gold Forecast To 4 000 Oz By Mid 2026 Goldsilver

Bonisiwe Shabane

-Dec 27, 2025, 6:29 PM

j p morgan raises gold forecast to 4 000 oz by mid 2026 goldsilver

Gold just hit its 50th record high of 2025, blasting through $4,500. Silver is surging in Shanghai on relentless Chinese buying. Platinum’s breaking records on supply constraints and an EU policy reversal. Meanwhile, economists are pushing back on rosy GDP numbers — and warning of stagflation ahead. Gold topped $4,500 for the first time Wednesday, capping a 70% rally in 2025. Silver surged 150% while platinum hit levels not seen since 2008.

The precious metals boom comes as the White House pushes for more Fed rate cuts, the labor market sends mixed signals, and Vanguard urges investors to flip their portfolios. Silver is setting up for one of the most consequential moves in decades. With global stockpiles vanishing, industrial demand surging, and the gold-to-silver ratio flashing historic signals, Mike Maloney explains why many investors are asking a serious question: will silver hit triple digits — and how close... Daily News Nuggets | Today’s top stories for gold and silver investors December 23rd, 2025 Silver Breaks $70 as Industrial Demand Roars Back Spot silver surged past $70/oz for the first time ever, capping... Solar manufacturing, EV components, and electronics are driving the surge — and some refiners say they’re running at full capacity while miners struggle to keep pace after years of underinvestment. Silver is behaving less like a sleepy precious metal and more like a high-beta industrial barometer.

When manufacturing demand collides with safe-haven buying — especially during currency volatility — moves like this happen. If silver holds above Gold ETFs offer convenience, but that ease comes with hidden risks. From counterparty exposure to frozen redemptions, this breakdown shows why physical gold offers true ownership and real crisis protection. In a note released recently, JPMorgan has predicted that the price of gold could surpass $4,000 per ounce in the coming year. This forecast is based on the bank’s assessment of heightened recession risks, which are being fueled by escalated US tariffs and the continuing trade conflict between the US and China, Reuters quoted the bank...

The bank’s analysis suggests that these ongoing trade tensions and the potential for a global economic downturn are likely to increase the demand for safe-haven assets, such as gold. As investors seek to protect their wealth from market volatility and economic uncertainty, the price of gold is expected to rise significantly, potentially reaching the $4,000 mark. JPMorgan has revised its gold price forecast upwards, and now anticipates that gold will average $3,675 per ounce by the fourth quarter of 2025. Gold prices surged in 2025 due to trade tensions, central bank and ETF demand. What is the gold price forecast for 2026 and beyond? JP Morgan has made a bold prediction about the future of gold prices.

The financial giant forecasts gold could reach an unprecedented price of $4,000 per ounce by mid-2026. This forecast is primarily driven by growing recession concerns, increased US tariffs, and escalating trade tensions between the US and China. In its latest report, JP Morgan stated these factors are expected to trigger a sustained rally in the price of gold. JP Morgan predicts gold will average $3,675 per ounce by Q4 2025. The bank also noted prices could hit the $4,000 mark sooner if investor and central bank demand remains robust. This year alone, spot gold has already surged by 29%, reaching an all-time high of $3,500 per ounce on April 22.

Goldman Sachs has also turned more bullish on gold prices. The bank recently upgraded its 2025 year-end forecast from $3,300 to $3,700 per ounce. In an extreme case, Goldman Sachs even said that gold could hit $4,500 by the end of next year. This bullish outlook is similar to JP Morgan's predictions about the future course of gold prices. A major reason behind JP Morgan's prediction is the robust buying from investors and central banks. The bank expects net gold demand to average at around 710 tons per quarter this year.

However, JP Morgan also noted risks to its forecast. If central bank demand weakens or the US economy copes better than expected with tariff shocks, it could see a more hawkish US Federal Reserve, possibly rate hikes. Along with gold, JP Morgan also offered a forecast for silver prices. The bank expects silver to face short-term headwinds from weak industrial demand. However, it expects a recovery in the second half of 2025, with prices expected to rise toward $39 per ounce by year-end. This prediction shows a silver lining despite the current market conditions.

After the initial turmoil in the first three weeks of April, global brokerage firm JP Morgan has issued a revised outlook on gold prices, predicting an average of $3,675 per ounce by the fourth... The firm cited deepening macroeconomic concerns and rising geopolitical instability as the primary drivers behind the projected price surge. In its note, JP Morgan stated, “Tariff-driven recession and stagflation risks are forecasted to continue to supercharge gold’s structural bull run.” The foundation of JP Morgan’s gold outlook lies in the robust quarterly buying patterns supported by central banks and investors. According to its analysis, “a breakeven demand level (for prices to stay flat qoq) is around 350 tonnes or more of quarterly net demand from investors and central banks.” JP Morgan highlighted the reasons behind central bank demand, pointing to persistent global uncertainties.

“For central banks, the combination of economic, trade, and US policy uncertainty, as well as shifting, more unpredictable geopolitical alliances, will continue to fuel gold buying in our view,” it said. JP Morgan identified gold as one of the few remaining reliable hedges against a growing list of global financial risks. “For investors, we think gold remains one of the most optimal hedges for the unique combination of stagflation, recession, debasement and US policy risks facing markets in 2025 and 2026,” the note said. Gold entered 2026 at levels few institutions believed possible just two years earlier. An extraordinary 2025 rally driven by aggressive central-bank buying, persistent geopolitical tension, and expectations of monetary easing pushed prices to all-time highs above $4,300 per ounce and forced banks to rewrite their outlooks. This article consolidates the most authoritative projections from major banks and respected analysts, along with the relevant forward-looking forecasts from earlier institutional research, so you can track how projections have changed over time.

The chart below shows real-time gold spot prices tracked by Lear Capital and updated throughout the trading day. Before gold accelerated far beyond expectations, several institutions issued more conservative targets. Some of these remain useful as reference points that illustrate how sharply sentiment has changed. These earlier forecasts now read like the first chapter in a much larger price repricing. By the end of 2025, gold had sailed past $4,000, prompting an industry-wide reset of forward expectations. Reuters convey the info from a JP Morgan note:

Global investment bank JP Morgan has projected that gold prices could soar beyond $4,000 per ounce by the second quarter of 2026, fueled by rising recession fears, escalating U.S.-China trade tensions, and persistent investor... In a report released Tuesday, JP Morgan forecasted that gold could average $3,675 per ounce by the fourth quarter of 2025, following a powerful rally already underway. The bank noted that if investor interest exceeds expectations, the milestone could arrive even sooner. “Strong investor and central bank demand, averaging approximately 710 tonnes of gold per quarter this year, forms the backbone of our bullish outlook,” the bank explained. This optimistic forecast comes on the heels of spot gold reaching a historic $3,500 per ounce this week, representing a stunning 29% gain year-to-date and marking the 28th record high of 2025. Gold’s surge reflects growing investor anxiety amid global macroeconomic instability, reaffirming its reputation as a premier safe-haven asset.

JP Morgan’s revised projections align with a similarly upbeat view from Goldman Sachs, which earlier in the month raised its end-2025 forecast to $3,700 per ounce, up from $3,300. Goldman further suggested that, in scenarios involving severe global economic downturns or major geopolitical shocks, gold prices could even approach $4,500 per ounce by late next year.

J P Morgan Raises Gold Forecast To 4 000 Oz By Mid 2026 Goldsilver

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