JPMorgan forecasts gold price surge amid Federal Reserve rate cuts

JPMorgan, a prominent global investment bank, predicts a significant rise in gold prices through the fourth quarter of 2024.

This outlook is bolstered by anticipated Federal Reserve rate cuts starting in September, which are expected to stimulate western investor demand in futures and ETFs.

The price of gold recently surpassed its previous all-time high, reaching over $2,465 per ounce, driven by market reactions to Federal Reserve actions and geopolitical influences.

Analysts at JPMorgan foresee gold prices potentially climbing towards $2,500 per ounce by the end of the year, marking a continued bullish stance on the precious metal amid economic uncertainties.