J.P. Morgan Raises Gold Target to $6,300 for 2026
J.P. Morgan significantly raised its year-end 2026 gold forecast, citing sustained central bank buying of 800+ tonnes expected this year. Meanwhile, gold experienced its sharpest one-day drop since 1983 (-9.8%) on January 30th.
Key Takeaways
- Central banks bought 863 tonnes in 2025, 800t expected in 2026
- Gold fell 9.8% on Jan 30 - biggest daily drop since 1983
- CME margin hikes added to recent selling pressure