200% surge over 6 years in Gold prices

After a strong run for precious metals, gold mining shares still look undervalued.

That’s the view from JP Morgan’s latest note on listed producers, which argues there’s room for substantial upside, especially if its bullish forecast for the precious metal proves right.

Its commodities team is pencilling in a price of $4,100 an ounce for 2026. That’s well above current spot levels of $3,320 and would mark a new all-time high.

Based on that estimate, JP Morgan sees around 40–50 per cent upside to average analyst expectations for earnings before interest, tax, depreciation and amortisation across the sector.

Source – This Is Money

U.S. President Donald Trump’s latest tariff threats have ignited another gold rush, propelling the safe-haven metal to new heights and bringing the glittering $3,000 milestone into view.

Spot gold climbed to a record $2,911.30 a troy ounce on Monday – its seventh record peak to date in 2025. Prices are already up nearly 11% so far this year after a staggering 27% gain in 2024.

“Gold is very clearly targeting the $3,000 level and the market is incredibly strong, almost relentless. Now its only a question of when it will scale the level and not if it will,” independent analyst Ross Norman said.

Source – Reuters

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Scaling to level – In finance, is the ability of an organization to perform well under and increasing or expanding workload.