CandleFocus JPMorgan Chase, Bank of America and Five Wall Street Giants Forecast Relentless Rally for One Asset in 2025: Report
2024-10-05
Author: Content Editor
Seven Wall Street giants, including JPMorgan Chase and Bank of America, predict that gold will rally in the year ahead and reach new all-time highs by 2025. The banks believe that factors such as more interest rate cuts from the Federal Reserve, increased central bank accumulation, and retail investors piling into gold exchange-traded funds (ETFs) will drive the price of gold higher. Goldman Sachs expects 33% of the price jump to come from investors getting exposure through ETFs and the Fed's rate-cutting cycle, while the remaining 67% could come from central banks continuing to buy gold. Price targets for gold range from $2,600 to $3,000 by next year and $2,800 to $3,000 by 2025. However, UBS is less optimistic, expecting gold to top at $2,700 in 2025. At the time of writing, gold is trading for $2,666.50 per ounce.
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