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JPMorgan boosts its 2024 projections for Fed rate cuts, gold investment
Gold prices are continuing to hold above $2,000 per ounce in the new year, and the precious metal will benefit from additional rate cuts in 2024, along with the return of investment demand, according to commodities analysts at JPMorgan. While the investment bank still maintains that “the only structural bullish call we hold is for gold and silver,” precious metals are expected to lose some of the additional boost provided by high inflation. “Commodities are unlikely to benefit from core inflation in 2024,” said Natasha Kaneva, Head of Global Commodities Strategy at JPMorgan. “Inflation should fall to under ... (full story)