14 March 2024
JPMorgan Chase & Co. tags gold as its top commodity pick, forecasting a potential surge to $2,500 per ounce this year, fueled by market enthusiasm. Natasha Kaneva, the bank’s lead commodities researcher, highlighted the metal’s recent peak at $2,195.15, suggesting a climb to $2,500 is within reach if inflation moderates and job growth stabilizes. Additionally, the Federal Reserve’s expected shift to a more accommodative monetary policy could further elevate gold’s attractiveness against yield-generating investments, pending evidence of inflation aligning closer to the Fed’s 2% goal.