TechFlow news, October 24 — JPMorgan's commodities team recently stated that gold's recent sharp decline was merely a "technical adjustment" and does not alter its view of a "multi-year structural bull market." The bank raised its year-end 2026 gold price target to $5,055 per ounce and forecast silver prices to reach $56. Analysis suggests that after the pullback, gold prices have returned to the critical support zone of $3,944–$4,000, where renewed buying from central banks and consumers is expected.
JPMorgan highlighted that sustained inflows into ETFs remain the core driver behind rising gold prices. From August to October, global gold ETFs added approximately 268 tons, equivalent to around $33 billion in capital inflows. The bank expects central bank gold purchases to remain elevated over the next two years, while expectations of Federal Reserve rate cuts will further support long-term price gains.
However, JPMorgan's quant team warned of a record-level short Gamma imbalance in the gold ETF options market, indicating potential short-term downside risks. Overall, JPMorgan maintains that the bull market trend for gold and silver remains intact, with any correction likely setting the stage for the next upward leg.
A BiyaPay analyst noted: Investors can trade gold, silver, and related futures via the BiyaPay platform, as well as flexibly invest in U.S. stocks, Hong Kong stocks, and spot cryptocurrency contracts using USDT to capture emerging market opportunities.
