JP Morgan Forecasts Gold Rally Amid Shift from Bonds to Precious Metals
JP Morgan strategists predict Gold could surge 110% within three years, targeting $8,600 by 2028 as investors pivot from long-dated bonds to the precious metal. Spot gold (XAU/USD) has already gained 50% this year, trading above $4,100, with institutional accumulation offsetting recent volatility.
The bank attributes the rally to unprecedented demand for equity hedges, noting even a 2% reallocation of global bond holdings to gold could trigger the projected upside. Analysts led by Nikolaos Panigirtzoglou dismiss short-term corrections as noise, emphasizing structural support from central banks and retail buyers.