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Weaker demand to cap near-term gold price gains, JP Morgan says
Demand for gold from key sectors will fail to meet expectations, limiting the rise in gold prices this year to $4,300/oz in Q3 and $4,500/oz in Q4, J.P. Morgan said Monday, after previously forecasting gold prices to climb to $6K by year-end. JPM said the risks to its forecast skew to the downside, given potential interest rate hikes by the U.S. Federal Reserve if data comes in hot over the rest of the summer. High interest rates typically weigh on non-yielding bullion, as investors turn to assets that offer better returns. But JPM retained a long-term bullish view, saying gold could extend gains in 2027 as central ... (full story)
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From miningweekly.com | 12 hr ago
JPMorgan said demand for gold from key sectors would not be as strong as it had expected, limiting the rise in gold prices this year to $4 300/oz in the third quarter and $4 500/oz in the fourth quarter. The bank said the risks to its forecast skew to the downside, given possible early interest rate hikes by the U.S. Federal Reserve if data were to come in ...
From kitco.com | 4 hr ago
The gold market continues to face solid selling pressure as prices have been unable to break through initial resistance at $4,200, and the precious metal is unlikely to attract renewed bullish momentum as activity in the U.S. services sector remains resilient. The Institute for Supply Management (ISM) announced on Monday that its Services Purchasing ...
From kitco.com | 6 hr ago
Although gold prices have been unable to break initial resistance above $4,200, one market strategist expects the worst of the selling pressure from the months-long correction may now be over. In his latest precious metals note, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said he believes the price action in the gold market is shifting from ...
