JP Morgan says gold's structural bull case remains intact with peak target of $2,600/oz

Reuters04-26

April 25 (Reuters) - JP Morgan said on Thursday that gold's structural bull case remains intact with a peak target of $2,600/oz.

It also said the price jump in copper so far may be early but is directionally right towards its peak price target of $11,500/mt, and that its base case remains an unchanged $90 Brent through May and $85 in 2H24.

The bank also added that even though it still very much likes gold as a structural multi-year bullish story with an updated price forecast of $2,600/oz, after two years at the top of the pecking order, from here, gold is replaced by U.S. HH natural gas as its number 1 buying recommendation.

(Reporting by Anjana Anil in Bengaluru)

((Anjana.Anil@thomsonreuters.com;))

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It also said the price jump in copper so far may be early but is ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DUG","symbol_name":"二倍做空石油与天然气ETF(ProShares)","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2430252816","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430252816","pubTimestamp":1714078475,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"April 25  - JP Morgan said on Thursday that gold's structural bull case remains intact with a peak target of $2,600/oz.   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