JP Morgan analysts on Thursday maintained a bullish outlook on gold, forecasting prices could reach an average of $5,055 per ounce by the fourth quarter of 2026. The forecast is based on "demand assumptions that see investor demand and central bank buying averaging around 566 tons a quarter in 2026," the bank said in a note. "Gold remains our highest conviction long for the year, and we see further upside as the market enters a Fed rate-cutting cycle," Natasha Kaneva, Head of Global Commodities Strategy at JP Morgan, said. The combination of a "Fed cutting cycle with overlays of stagflation anxiety, concerns around ... (full story)