Factbox-J.P. Morgan expects gold prices to reach $6,300/oz by end of 2026

Feb 2 (Reuters) - J.P. Morgan expects gold prices to reach $6,300 per ounce by the end of 2026, as demand from central banks and investors continue...

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Feb 2 (Reuters) - J.P. Morgan expects gold prices to reach $6,300 per ounce by the end of 2026, as demand from central banks and investors continues, it said in a note on Monday.

The brokerage now forecasts central-bank gold purchases at 800 tons in 2026, citing an ongoing, unexhausted trend of reserve diversification.

"Even with the recent near-term volatility, we remain firmly bullishly convicted in gold over the medium-term on the back of a clean, structural, continued diversification trend that

has further to run amid a still well-entrenched regime of real asset outperformance vs paper assets," the brokerage said in a note on Monday.

Bullion fell more than 9.8% on January 30, in its sharpest one-day drop since 1983, and extended its fall on Monday, as increased CME margin requirements added to selling pressure.

Meanwhile, Deutsche Bank on Monday reiterated its gold price forecast of $6,000 an ounce in 2026, citing sustained investor demand for the precious metal despite an adjustment in prices.

Following is a list of analysts' latest gold price forecasts (in $ per ounce):

Brokerag Annual Price Targets Forecast as

e/Agency Price of

Forecas

t

2026

Expects prices

J.P. reaching $6,300 by 4Q26 February 2,

Morgan $6,300 2026

UBS - Raises target to $6,200 for January 29,

March, 2026

June, and September 2026