JPMorgan says gold could hit $6,000 when Trump's term ends - MINING.COMJPMorgan says gold could hit $6,000 when Trump’s term ends
Stock image.JPMorgan reinforced its bullish case for gold by forecasting prices to rise to $6,000 per ounce by the end of US President Donald Trump’s current term in 2029, an 80% increase on current levels.
This scenario, according to its analysts, could realistically occur with just a small allocation away from US assets under the current macroeconomic climate.
Even with 0.5% of foreign-held US assets reallocated to gold, that would result in 18% annual returns and eventually send prices to $6,000, the bank wrote in a note on Wednesday.
Ann: First Gold Drilling Program of the Year Completed, page-90
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