JPM Private Bank Predicts Gold Prices Will Climb to US$5,200-5,300 by End of 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 11 2025
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Source: aastocks
Gold Price Forecast: Alex Wolf from JPMorgan Private Bank predicts that gold prices could reach US$5,200-5,300 per ounce by the end of 2026, driven by central bank purchases in emerging markets.
Central Bank Holdings: Despite the current small scale of gold in foreign exchange reserves among many central banks, especially in emerging markets, there is an expectation of increased holdings, although rising prices may slow accumulation.
China's Import Data: China's year-on-year imports for October showed a significant decline to 1.0%, down from 7.4%, and below the forecast of 3.2%.
Recent Gold Price Trends: The gold price recently hit a new high of US$4,380 per ounce and has increased by over 50% this year, despite some recent corrections.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
