Gold prices to hit $5,000 by 2026 - JP Morgan forecasts

Global financial services leader J.P. Morgan is projecting that global gold prices could surpass $5,000 per ounce by 2026.

According to the forecast, gold prices may reach between $5,200 and $5,300 per ounce by the end of 2026, more than 25% higher than current trading levels of around $4,114 per ounce as of November 2025.

Purchases by central banks have been a key driver of bullion’s remarkable surge over the past couple of years, as policymakers seek a reliable store of value and a tool for asset diversification.

Gold prices move above $4,000 an ounce

The precious metal has already shown strong momentum, gaining more than 50% year-to-date and hitting record highs above $4,380 in October 2025.

Gold purchases have been led primarily by China, which aims to build a financial system less dependent on US-centric markets. Poland, Turkey, and Kazakhstan have also been increasing their gold reserves.

Data from the World Gold Council indicates that central banks added 634 tons of bullion to their reserves through September 2025, a significant surge compared to the previous three years, during which gold holdings remained above pre-2022 averages.

SP/MA

#TrendingGH: What Ghanaians want from the 2026 budget: