According to a client note, JP Morgan projects gold could reach $8,000 per ounce by the end of the decade. The note, prepared by strategists led by Nikolaos Panigirtzoglou, cited central bank buying and broad investor demand as the drivers.
The bank had also forecast the XAU/USD index to climb above $5,000 in 2026. That target was met in January when the index approached $5,500.
If prices hit $8,000, returns would total about 65 percent from current levels. A $10,000 investment today would grow to roughly $16,500 by the end of 2030.
After touching its recent highs, gold fell sharply and traded at $4,895 on Saturday. The move erased nearly 9 percent, a drop of close to 500 points in a single session.
The research highlighted central banks shifting away from dollar assets into gold to diversify reserves. It also noted retail jewelry purchases and large institutional inflows amid trade uncertainty as additional support for higher prices.
