JPMorgan’s latest forecast pushes gold to $6,300 an ounce by Q4 2027, a 54% jump from today’s $4,100 level.
Gold slid 1.5% overnight to $4,100, its lowest in a month, as the 10‑year U.S. Treasury climbed to 5.3% and the dollar index breached 102.
Goldman Sachs now sees $5,600, Morgan Stanley $5,000, while UBS warns of a possible drop to $3,850 before the 2027 peak. The range of 5,000‑5,600 for next year mirrors the consensus of 5,330 from Metals Focus and 5,100 from LBMIA.
Central‑bank purchases are expected to cool from 1,092 tonnes in 2024 to under 1,000 tonnes as prices climb, tightening supply and adding upward pressure.
With a 78% probability of a December rate hike, yields are likely to stay above 5% until at least 2028, sustaining a prolonged rally for gold.
Investors should keep an eye on the next Fed minutes and the June 2026 gold price review for any shift in sentiment.