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JPMorgan Predicts Gold Price Stability Amid US Election Uncertainty

JPMorgan’s latest research report suggests that it is challenging to hold a pessimistic view on gold. The report states that regardless of the outcome of the US election, any pullback in gold prices would present a good buying opportunity. Currently, gold trading is highly active, and unexpected election results could cause short-term market volatility. However, JPMorgan believes that in the long term, gold will continue to benefit from the Federal Reserve’s rate-cutting cycle, central bank purchases, and the global trend of currency depreciation.

The report highlights that these factors have supported gold prices over the past year and will continue to do so regardless of the US election outcome. It predicts that if the Republican Party achieves a comprehensive victory, gold prices could rise by 7-10% over the next 1-2 quarters. Even in the most conservative scenario, where Harris wins and Congress is divided, a short-term pullback of 2-3% might occur, but there would still be room for price increases thereafter.

Source: Binance