JPMorgan: No matter who wins, if gold prices pull back, it's a buying opportunity

Odaily News "It's hard to be pessimistic about gold." On the eve of the US election, JPMorgan Chase's latest research report gave such a judgment. The bank said in the report: "No matter who wins, if the gold price pulls back, it will be a good buying opportunity." At present, gold trading is very active, and if the election results are unexpected in the short term, the market may fluctuate. But JPMorgan Chase believes that in the long run, gold still benefits from the Fed's interest rate cut cycle, purchases by central banks of various countries, and the trend of global currency depreciation. The bank wrote in the report: "These factors have supported gold prices over the past year, and these drivers will continue to exist regardless of the outcome of the US election." The report predicts that if the Republicans win comprehensively, gold prices are expected to rise by 7-10% in the next 1-2 quarters; even in the most conservative case - Harris wins and Congress is divided, although it may pull back by 2-3% in the short term, there is still room for growth afterwards. (Jinshi)