JPMorgan raises its long-term gold forecast to USD 4,500/oz, keeps its 2026 year-end forecast at USD 6,300/oz
JPMorgan's revised long-term gold forecast suggests a bullish outlook for the precious metal, indicating increased demand or potential supply constraints over time.
US EIA Gasoline Production Change (Feb/20) -0.223 (Prev. 0.290, Rev. From 0.29)
EIA Expectations: Crude 1.84M, Distillate -1.2M, Gasoline -0.272M
JPMorgan raises its long-term gold forecast to USD 4,500/oz, keeps its 2026 year-end forecast at USD 6,300/oz
US Treasury announces new Iran-related sanctions
Riksbank's Thedeen says "...underlying inflation may be somewhat lower this year than in the most recent forecast"
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The significant increase to USD 4,500 per ounce in the long run and a year-end 2026 target of USD 6,300 suggests expectations for persistent inflationary pressures or currency devaluation, which could impact the broader commodities market and USD valuation.
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