As gold prices continue to smash records, analysts are now assessing the metal’s next potential destination, with JPMorgan outlining scenarios in which it could top the $8,000-an-ounce level in the coming years. Gold has been off to a strong start this year, gaining by almost a quarter to date amid a surge in safe-haven demand, strong central bank buying and a shift away from long-term bonds. Earlier this month, analysts at Goldman Sachs lifted its year-end gold price target to $5,400 an ounce, also citing growing demand from the private sector. The forecasts reflect the robust demand fundamentals for the safe-haven metal. Data released on Thursday by the World Gold Council showed that global gold demand hit a record high in 2025, driven largely by geopolitical instability and concerns about the US dollar.