JPMorgan tweaks gold price target as Fed risks return
From thestreet.com
Gold prices seemed to be mounting a comeback, but JPMorgan just made the rally harder to trust. Investors expected the shiny yellow metal to continue pushing higher into year’s end, buoyed by rate-cut hopes, central-bank buying, and safe-haven demand. Reuters reported that spot gold was up over 2% for the week, even as JPMorgan recently expected a much stronger year-end finish back in June. Now, the bank sees things differently. The bank said demand from key gold-buying sectors may not be as strong as it had expected, warning that risks now lean to the downside if hot U.S. data forces the Federal Reserve back toward ...
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