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As Gold Smashes Records, Forecasters Ask Whether Peak Is Near

  • JPMorgan sees rally losing steam after peaking around $2,000
  • Citi says higher prices will last longer, BofA expects $3,000
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“Overall, positions are quite extreme,” says Georgette Boele, strategist at ABN Amro.Source: Bloomberg
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Gold has just smashed a record, and every major bank agrees that it’ll cross $2,000 an ounce. What happens next is where forecasts diverge.

JPMorgan Chase & Co. says the rally that has already seen prices rise 27% in 2020 could start to lose steam later this year. Goldman Sachs Group Inc., Citigroup Inc. and Bank of America Corp aren’t ready to call it quits just yet, with the latter seeing the metal soaring to as high as $3,000 an ounce.