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JPM Private Bank Lifts Yr-End Gold Target to USD6,150; Gold Price Undergoing Healthy Technical Pull-Back
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Yuxuan Tang, JPMorgan Private Bank's head of macro strategy in Asia, viewed the latest decline in gold prices as a healthy technical pull-back, since the previous uptrend had certain irrational elements, and this adjustment effectively digested some speculative positions. It is worth noting that the gold price has only returned to the level of two weeks ago, meaning that its growth still stood at 13% in January. JPMorgan Private Bank has raised the year-end target for gold to USD6,150 per ounce, with a range of USD6,000-6,300. Positions are still far from crowded. AAStocks Financial News |
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