JPMorgan has projected that gold could reach $6,300 per ounce by the end of 2026, citing sustained demand from central banks and investors as the primary driver. The forecast comes despite recent weakness in the precious metals market, including a steep drop in silver and a sharp correction in gold, which the bank views as temporary.
JPMorgan estimates that global central banks will buy around 800 tonnes of gold this year. This level of demand, which has been strong since 2022, reflects a strategic move away from dollar-based reserves and towards tangible assets.
The recent drop in gold prices, over 10% in a single day, was attributed to changes in U.S. interest rate expectations and a stronger dollar. However, JPMorgan sees these moves as technical rather than fundamental. The broader trend remains bullish, supported by long-term macro positioning and a lack of significant supply response.
Cora Gold Ltd (LON:CORA), together with its subsidiaries, explores for and develops mineral projects in West Africa. The company primarily explores for gold deposits. Its flagship project is the Sanankoro Gold project located in the Yanfolila Gold Belt, Southern Mali.
