JP Morgan Predicts Gold to Rise to $6,300 by Year-End 2026

JP Morgan, a well-known financial company, said on Sunday night that it believes gold prices will go up to $6,300 for one ounce by the end of this year. They think this will happen because central banks and investors will continue to buy a lot of gold.

On Monday morning, the price of gold dropped further and was around $4,677.17 per ounce at 4:50 AM GMT. Earlier in the day, it had fallen more than 5% and reached its lowest level in over two weeks. Just a few days ago, on Thursday, gold had reached a very high price of $5,594.82 per ounce, which was a record.

JP Morgan explained in a note that they still strongly believe gold will do well in the medium term. This is because many countries and investors are trying to keep their money safe by putting it into real things like gold instead of paper money or stocks. This trend of choosing gold over paper assets is expected to continue for some time.

The company also shared that they expect central banks to buy around 800 tons of gold in 2026. This shows that the trend of central banks buying gold to keep their reserves safe is still going strong and is far from over.

When it comes to silver, the situation is a bit different. Silver prices have been around $80 per ounce since late December. JP Morgan said that it has become harder to understand why silver prices keep rising. Because of this uncertainty, they are being more cautious about silver.

On Monday, the price of silver dropped by more than 6% to $78.90 per ounce. Silver had reached a record high of $121.64 per ounce on Thursday but then dropped to its lowest level in nearly a month by Friday.

JP Morgan added that, unlike gold, central banks do not buy silver as much to protect their reserves. Because of this, silver prices might go down or the gold-to-silver price ratio might rise again in the coming weeks.

However, JP Morgan still believes that silver will keep a higher price floor, meaning its price will stay around $75 to $80 per ounce for now. Even though silver prices have gone up quickly to catch up with gold, it is unlikely that silver will lose all of its recent gains.