[JPMorgan Predicts Average Gold Price to Reach $5,055 by 2026] JPMorgan analysts estimate that the average gold price in Q4 2026 will reach $5,055 per ounce, with a long-term bullish outlook of $6,000 per ounce by 2028. The bank believes that the Federal Reserve's rate-cutting cycle, stagflation concerns, and currency devaluation risks will drive gold prices higher. Analysts pointed out that recent market consolidation reflects supply-demand imbalances, and the pullback is a healthy phenomenon. JPMorgan emphasized that gold remains the most confident long position this year and recommends examining its trend from a long-term perspective.