JPMorgan Cuts Q4 2026 Gold Price Forecast to $4,500 per Ounce, Down 25% on July 6

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According to BlockBeats, JPMorgan cut its Q4 2026 gold price forecast to $4,500 per ounce on July 6, down 25% from its previous target of $6,000 per ounce. The bank also projects Q3 2026 average gold prices at $4,300 per ounce.

The downgrade reflects weakened demand from major gold-purchasing sectors and gold's increased sensitivity to real interest rate fluctuations. JPMorgan expects gold prices to trade within a range in the second half of 2026 until macroeconomic conditions improve.

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