Leading investment bank JP Morgan has predicted a bullish price prediction for gold prices. According to a note issued to clients, the bank projects the precious metal to reach a high of $8,000 by the end of the decade.
JP Morgan has been accurate in most of its good price predictions recently. The global giant had predicted that the XAU/USD index could climb above the $5,000 mark in 2026. The target was reached in January as it went to a high of close to $5,500.
The research note on gold prices reaching $8,000 was issued to clients by JP Morgan’s strategists, who were led by Nikolaos Panigirtzoglou. He wrote that prices could even push above the $8,000 range by the end of the decade.
If the price prediction from JP Morgan turns out to be accurate, gold prices could deliver another 65% returns. Therefore, an investment of $10,000 made today could turn into $16,500 by the end of 2030. That’s massive returns in five years as the glittery metal is only projected higher.
However, after JP Morgan’s price prediction reached the target, gold prices experienced a steep fall. The XAU/USD index fell below the $5,000 range on Saturday, trading at $4,895. It fell by nearly 500 points in the trading session, erasing close to 9% of its value.
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JP Morgan Bullish on Gold: Gives $8,000 Target
The research from JP Morgan noted the importance of central banks accumulating gold to diversify their reserves. Developing countries are now cutting back on the US dollar-denominated assets like Treasuries and bonds to buy the shiny metal. Apart from central banks, retail investors are also buying jewellery as a form of investment. In addition, institutional funds have gone all-in on the safe haven due to uncertainty surrounding trade under the Trump regime. This makes the precious metal the overall winner in the commodity markets.