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JUST IN: JP Morgan raises its long-term gold price forecast by 15% to $4,500 an ounce.
JP Morgan raised its long-term gold price forecast by 15% on Wednesday to $4,500 an ounce, while maintaining its forecast for the end of 2026 at $6,300.
In a note to clients, the bank cited increased central bank purchases, public announcements of US Treasury divestment, and countries shifting their revenue bases from the dollar to the Chinese renminbi.