Gold continues to rise, and JP Morgan expects $6,300 per ounce
Gold prices rose today, Wednesday, driven by a decline in the value of the dollar, increased demand for safe assets, amid uncertainty about US tariffs, and increasing friction between the United States and Iran.The price of gold in spot transactions increased by 0.7%, reaching $5,180 per ounce, by 20:45 GMT, and US gold futures for April delivery rose by 0.5% to $5,198 per ounce.
And in the white metal, the price of silver jumped by 3.5% to about $90, recording the highest level in 3 weeks.
And in other precious metals, the price rose Platinum rose 5.4% to $2,285 an ounce, its highest level since February 4, while palladium gained 2.7%, reaching $1,816.
Meanwhile, the The US dollar is below the 98 level, making dollar-denominated gold cheaper for holders of other currencies.
Gold Price Forecast
In this context, the bank said "JP Morgan"On Wednesday, demand from central banks and investors this year could push Gold prices to $6,300 per ounce by the end of 2026. He also raised his long-term forecast for the precious metal to $4,500 per ounce.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
