J.P. Morgan Analyzes: Bullish Forecast for Gold and Silver Through 2024 and Beyond

J.P. Morgan Analyzes: Bullish Forecast for Gold and Silver Through 2024 and Beyond

According to a report by www.ntg24.de,

The most recent trading week brought a uniform but still negative development on the precious metals markets. Gold and silver, traditionally considered safe havens, fell slightly as investors look ahead to upcoming U.S. inflation data and its impact on the Federal Reserve's interest rate policy.

A recently published analysis by J.P. However, Morgan points to an optimistic future for gold and silver. Bank experts predict both metals will outperform compared to other sectors, driven by an expected cut in US interest rates and a decline in real yields in the US. Gregory Shearer, Head of Base and Precious Metals Strategy at J.P. Morgan, emphasizes the high confidence in a medium-term bullish forecast for both metals into the first half of 2025.

The impact of rising prices on the global jewelry market is also something to consider. The continued rise in gold prices has affected the demand for jewelry worldwide, especially in countries like India, which has seen a decline in consumption of gold jewelry. The role of central banks and macroeconomic factors in the price development of gold and silver cannot be ignored either.

Technically, gold is trending slightly bearish while silver is below its 200-day moving average, indicating more negative sentiment overall. The comprehensive trend analysis provides a differentiated picture of market sentiment and is essential for investors who plan strategically and want to find the optimal time for buying or selling decisions.

This report shows that gold and silver prices could be shaped positively in the coming years not only by supply and demand factors, but also by external macroeconomic and political events.