JPMorgan Slashes Gold Target, Signaling Potential Crypto Shift
JPMorgan just slashed its Q4 gold price target by 25% to $4,500/oz, citing weaker demand and sensitivity to real interest rates. This near-term caution, despite a long-term bullish outlook, could redirect institutional capital towards crypto.
JPMorgan is hitting the brakes on gold, slashing its Q4 2026 price target by a hefty 25% to $4,500/oz. The bank's analysts are seeing weaker demand from key sectors and a heightened sensitivity to real interest rates, forcing a recalibration from their previous $6,000 target. They're calling it "range-bound" for now, expecting sideways action before any second-half recovery. This move is significant because gold and Bitcoin often battle for the same macro hedge capital. A stalled gold price could mean more institutional dollars flowing into crypto in the short term. However, JPM's long-term bullish thesis on gold remains intact, driven by central bank accumulation and institutional hedging, so don't expect gold to disappear as a store of value anytime soon.