International Center / Comprehensive Report
As the tariff trade war intensifies, gold has once again become a safe haven for investors, with prices surging. JP Morgan predicts that gold will reach its peak in Q2 of 2026.

On the 22nd of this month, gold prices continued to rise, surpassing $3500 per ounce during trading. Factors such as a weakening dollar and President Trump’s attacks on Federal Reserve Chair Powell have increased investor anxiety, driving demand for safe assets and causing gold prices to continually set new historical highs.

JP Morgan forecasts that by 2026, gold prices could exceed $4000 per ounce, while Goldman Sachs assesses that prices may reach $4500 by the end of the year. According to reports, New York gold futures increased by 0.4%, reaching $3438.40 per ounce, while spot gold was priced at $3425.91, with an earlier surge to $3500.05 marking an all-time high.

According to analysts at Forex.com, any short-term drop in gold prices attracts buyers, making price fluctuations significant. Following the conflicts in Ukraine and the Middle East, trade tensions have emerged as a primary driver of gold prices. Analysts note that the economic uncertainty stemming from US-China tensions has heightened the risk assets concern, further bolstering the gold bulls.

TD Securities’ commodity strategist, Daniel Ghali, asserted that uncertainties related to tariffs were a major factor causing currency depreciation in Asia, ultimately driving demand for gold. With the increasing tensions in US-China trade relations, JP Morgan forecasts that gold prices may breach the $4000 per ounce threshold by Q2 of 2026, while Goldman Sachs revised its 2025 year-end forecast from $3300 to $3700 per ounce.