JPMorgan analyst: Gold may not reach $3000 this year, but it is still expected to achieve it in the long term.

On September 22nd, Jinshi Data reported that Fawad Razaqzada, a senior analyst at Jia Sheng Group, said, “Gold broke through the $2,600 mark, and it is expected that there will be some profit taking in gold soon. However, I remain moderately bullish on the gold trend for the rest of this year. Although gold may not reach the milestone of $3,000 this year, I believe there is still hope for this long-term target due to the expected acceleration of interest rate cuts by major central banks such as the Federal Reserve, as well as ongoing geopolitical tensions and central bank gold purchases. Geopolitical drivers may be more important than interest rate cuts.”