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JPMorgan tweaks gold price target as Fed risks return
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 ... (full story)
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- Jul 5, 10:59am | 3 hr ago Posted byFundamental Analysis100
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