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JP Morgan think gold could settle at $1800/oz in Q3

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(Kitco News) - JP Morgan forecasts gold to remain near $1800/oz in Q3 this year. The bank says they are not seeing too much movement for XAU/USD ahead, their Q3 forecast is towards $1800, not far from the current spot level. Looking closer into the report the bank is predicting a bounce in risk sentiment. Also with the normalization of interest rates the report noted that US yields could be heading higher still.

Conversely, JPMorgan Chase & Co.'s chief executive officer Jamie Dimon last week warned of shocks to the economy amid challenges including risks from inflation and the fallout from the war in Europe. These uncertainties could well see more investors seeking a store of value. Dimon warned investors to ready themselves for an economic hurricane. "That hurricane is right out there down the road coming our way," Dimon said at a conference last Wednesday. "We don't know if it's a minor one or Superstorm Sandy. You better brace yourself."

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