PRECIOUS METALS | J.P. Morgan Raises Short-Term Gold Forecast to $4,500

J.P. Morgan has adjusted its short-term gold price forecast, increasing it by 15% to $4,500 per ounce as of February 25. According to NS3.AI, the bank maintains its year-end 2026 target at $6,300 per ounce. The upward revision is attributed to ongoing central bank purchases and a shift in reserve diversification away from the U.S. dollar, which continue to support higher gold prices.