off-the-wire

JP Morgan says weaker demand may cap gold gains near-term, sees rebound in late 2026 and 2027

Kitco Media
By Reuters
Published:
Updated:
Reuters
JP Morgan says weaker demand may cap gold gains near-term, sees rebound in late 2026 and 2027 teaser image

July 3 (Reuters) - JPMorgan said on Friday that ​softer buying from key ‌demand sectors and gold's renewed sensitivity ​to real yields ​could keep prices range-bound ⁠in the near ​term, though it ​expects a recovery in the second half of 2026, ​with prices ​averaging $4,300/oz in the third quarter ‌and $4,500/oz ⁠in the fourth quarter.

The bank retained a long-term bullish ​view, saying ​gold ⁠could extend gains in 2027 ​as central ​bank ⁠purchases and physical demand strengthen amid ⁠enduring ​structural drivers ​of accumulation.

Reporting by Pranav Mathur in ​Bengaluru Editing by Matthew Lewis

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