JPMorgan says gold prices could double in three years
The sharp drop in gold prices this week has not shaken the bullish outlook. JPMorgan expects gold prices to more than double in three years as investors increasingly use gold to hedge against stock risks. Goldman Sachs maintains its target price of $4,900 per ounce by the end of 2026, citing strong demand from central banks and institutions.
JPMorgan's Nikolaos Panigirtzoglou said the recent sell-off was driven by profit-taking from commodity traders rather than retail investors, while current gold buying reflects a strategic shift toward portfolio diversification.
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