JPMorgan has found evidence that the market is already worried about central bank independence, with gold futures showing signs of a "Fed inflation trade."
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The Wall Street investment bank said it remains bullish on gold, "with a short-/medium-term target of US$4,000/oz."
The precious metal could rise to a price between $8,000 and $8,500 an ounce, the bank said.
Gold deepens losses after seeing its worst day since 1980, but J.P. Morgan Private Bank maintains its price target of $6,500.…
The yellow metal's recent slide could continue over the near term, but the long-term outlook is bright.
"We're in the 4th debasement cycle that started in 2022," wrote Wells Fargo Securities' Ohsung Kwon.
Despite recent choppiness, several factors led the bank to lift its 2026 outlook.
