JP Morgan: No matter who wins, if gold pulls back, it's a buying opportunity

November 3, “It's hard to be pessimistic about gold.” On the eve of the U.S. election, JP Morgan's latest research report gives this judgment. The bank said in the report, “no matter who wins, if the gold price pullback, it will be a good opportunity to buy.” At present, gold trading is very active, and in the short term, if the election results are unexpected, the market may be volatile. But JPMorgan believes that in the long term, gold continues to benefit from the Federal Reserve's rate-cutting cycle, purchases by central banks, and the global trend of currency devaluation. “These factors have supported the gold price over the past year, and these drivers will continue regardless of the outcome of the U.S. election,” the bank wrote in the report. The report predicts that gold prices are expected to rise 7-10% in the next 1-2 quarters if the Republicans win across the board; even in the most conservative scenario - a Harris victory and a divided Congress - there is still room for gains afterward, although there could be a 2-3% pullback in the short term.