JP Morgan sees gold averaging $5,055/oz by late 2026

Oct 23 (Reuters) – JP Morgan on Thursday forecast gold prices could reach an average of $5,055/oz by the fourth quarter of 2026, based on assumptions that investor demand and central bank buying will average around 566 tonnes per quarter next year. "With gold being our highest conviction long all year, we still believe it has even higher to go as we enter into a Fed cutting cycle," JPMorgan said in a note. (Reporting by Sherin Elizabeth Varghese and Anmol Choubey in Bengaluru; Editing by Susan Fenton)

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