As of 5:00 AM Beijing Time on October 24, COMEX gold futures closed up 1.91% at $4,143.2 per ounce. However, as of 6:30 AM Beijing Time on October 24, COMEX gold futures had retreated somewhat.

JPMorgan remains optimistic about gold. Its analysts最新 predict that by the fourth quarter of 2026, the gold price will rise to an average of $5,055 per ounce, an increase of approximately 15% from the October 20 high of $4,381. This is because the global quarterly gold purchase demand from investors and central banks will remain around 566 tons in 2026, which will be the core driver pushing gold prices higher.

Natasha Kaneva, Head of Global Commodities Strategy at JPMorgan, said, "Gold remains our most confident long position this year. As the Federal Reserve enters a rate-cutting cycle, we believe gold prices have further room to rise."

A Guojin Securities research report stated that, in the long term, gold prices reflect the pricing of the collapse of the old international order dominated by the US dollar. The long-term bull market in gold is driven by stagflation resulting from the global low-growth environment and stagnation in technological progress. If new technological advancements can successfully enhance productivity, gold prices will face the risk of adjustment. Conversely, until new technologies can significantly boost productivity and resolve issues of internal and external global distribution, gold is still "midway up the mountain," and its upward trend against all fiat currencies will continue.