Adds J.P. Morgan and ANZ price forecasts

May 18 (Reuters) - J.P. Morgan lowered its 2026 average gold price forecast to $5,243 per ounce from $5,708, citing softer near-term demand for the metal as investor client interest has "dried to a trickle."

"This quietness shows through in stagnant activity and demand metrics. COMEX aggregate gold futures open interest and volume have remained depressed, net Managed Money futures open interest has stagnated at low levels and ETF flows have been light," analysts at the bank said in a note dated Sunday.

Despite the downgrade, the bank maintained a bullish outlook, expecting prices to climb toward $6,000 an ounce by the end of 2026 as demand strengthens in the second half of the year.

"We retain our bullish medium-term outlook and forecast that after the immense energy and inflation uncertainty clears, gold demand from investors and central banks will again re-intensify over 2H26."

The downgrade comes after ANZ also on Friday lowered its year-end target price for gold to $5,600 as inflation expectations, higher yields and a stronger dollar are likely to pressure prices.

Spot gold XAU= has fallen about 14% since the onset of the U.S.-Iran war in late February, as rising oil prices stoke concerns around inflation and higher-for-longer interest rates by the Federal Reserve. Prices earlier in the day hit their lowest since March 30 as a global bond rout deepened on mounting inflation fears. GOL/

Following is a list of analysts' latest gold price forecasts (in $ per ounce):

*end-of-period forecasts