American multinational finance company JPMorgan has raised its price prediction for gold and silver. This is coming despite a price slump that has seen gold come down from new all-time highs and silver from a record 13-year high. In a note sent to clients, JP Morgan analysts said they remain structurally bullish on gold and silver over the medium term and see the ongoing consolidation in precious metals prices as a buying opportunity for long-term investors to further accumulate the metals. The analyst predicted an 8% to 10% upside for gold and silver prices into the end of the year, which would see both metals reach their targeted highs of 2,600 dollars per ounce and 34 dollars per ounce, respectively, in 2025. Bank of America analysts are slightly bullish on gold, which they predict will see a potential price surge within the next 12 to 18 months, reaching record highs of 3,000 dollars per ounce.
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Credit: Arcadia Economics
Andy Schectman: JP Morgan Raises Silver Target To $34
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