Tariff uncertainty and strong demand from ETFs and central banks drove gold prices to record highs above $4,000 per ounce in 2025, and new demand from Chinese insurance giant and the crypto community could help the yellow metal break above $5,055 by the end of 2026, according to J.P. Morgan. After a year of the explosive demand and unprecedented price gains, J.P. Morgan’s 2026 outlook calls for the bull market to continue as the key drivers remain strong. “While this rally in gold has not, and will not, be linear, we believe the trends driving this rebasing higher in gold prices are not exhausted,” said Natasha ... (full story)