Summary
- JPMorgan said international gold prices could surpass $8,000 per ounce by 2030.
- It added that if investors’ portfolio allocation rises from 3% to 4.6%, gold prices could climb about an additional 40% from the record high.
- JPMorgan said the current gold investment environment is in an extremely overbought state, warning that a sharp wave of profit-taking could emerge in the short term.
Forecast Trend Report by Period
Global investment bank (IB) JPMorgan said international gold prices could reach $8,000 per ounce by 2030.
According to Cryptoprowl on the 1st (local time), JPMorgan said in a recent report that gold prices could surpass $8,000 per ounce by 2030. Gold prices climbed above $5,600 at the end of last month, setting a new all-time high.
The premise behind the $8,000 target is “portfolio allocation.” JPMorgan estimates investors currently allocate about 3% of total assets to gold. If that share rises to 4.6%, JPMorgan projects gold prices could rise about 40% further from the record high.
JPMorgan explained, “The next phase of the gold bull market is driven by structural reallocation rather than geopolitical shocks,” adding, “Gold is increasingly seen as a strategic hedge against fiscal-policy risk and currency depreciation.”
It also noted that volatility is unavoidable during the upswing. JPMorgan described current conditions for gold investment as an “extremely overbought state,” saying “a sharp wave of profit-taking could emerge in the short term.” Spot gold prices actually plunged nearly 10% on the day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
