JPMorgan Cuts Q4 2026 Gold Forecast 25% to $4,500 an Ounce

JPMorgan turned more cautious on gold in the short term, cutting its Q4 2026 forecast by roughly 25% to $4,500 per ounce from around $6,000. The bank now projects an average gold price of $4,300 per ounce in the third quarter and sees it rising to $4,500 in Q4, according to BeInCrypto, citing weaker demand from key buying sectors and greater sensitivity to real interest-rate shifts that could keep prices range-bound near term. Gold was trading at $4,175, up 1.26% in 24 hours but down 26% from its January 2026 high near $5,600, the report said.