JP Morgan's commodities team projects that gold prices could average $5,055 per ounce by the fourth quarter of 2026. This forecast is attributed to increasing institutional and central bank demand, alongside factors such as a potential Federal Reserve rate-cutting cycle, concerns over stagflation, and broader hedging against currency debasement. The prediction, led by Natasha Kaneva and Gregory Shearer, may influence investment strategies and affect digital assets like Bitcoin, which is often considered a store of value.