JPMorgan has slashed its average 2026 gold price forecast to $5,243 from $5,708, citing a downturn in investor demand and stagnant COMEX trading volume. The revision is driven by the Federal Reserve's higher-for-longer rate policy and subdued ETF inflows.
- Surging oil prices and a sharp selloff in government bonds have pushed 10-year Treasury yields to 4.631%, increasing pressure on the metal.
- Gold futures were last seen trading at $4,562.20 as the market adjusts to the revised outlook and rising yields.