JP Morgan has reiterated a firmly bullish outlook for gold, even after precious metals suffered one of their sharpest selloffs in decades.In a note released late Sunday, the U.S. investment bank said it sees $6,300 per ounce by year’s end, noting that the reasons behind the recent move higher remain intact.“We remain firmly bullishly convinced in gold over the medium-term on the back of a clean, structural, continued diversification trend that has further to run amid a still well-entrenched regime of real a ...

Core Viewpoint - The current bullish momentum in the precious metals market, particularly gold and silver, is attracting global investor attention, with expectations that key price levels may serve as temporary resistance rather than endpoints by 2026 [1][3]. Gold Market Summary - Gold prices are approaching significant psychological levels of $5000, with analysts raising the average price expectation for this year to $4741.97, a 38% increase from last year, driven by expectations of lower U.S. real interest rates and a dovish Federal Reserve policy [1][3]. - The market anticipates a volatility range for gold this year of $3700, with extreme bullish views suggesting a potential surge to $7150, fueled by geopolitical risk premiums [4]. - Institutions expect 2026 to be a year of heightened global risk aversion, particularly in regions like Latin America, leading to increased asset allocation towards gold [4]. Silver Market Summary - Following a nearly 150% increase in 2025, silver is projected to have the potential to double in 2026, driven by industrial demand from the electrification revolution, semiconductors, and artificial intelligence, despite concerns of the market entering an overbought territory [2][4]. - The smaller market size and lower entry barriers for silver make it more resilient during periods of rising gold prices [2][4]. Platinum Group Metals Outlook - The performance of platinum is expected to surpass that of palladium in the current macro environment characterized by shifting geopolitical themes and diminishing effectiveness of currency hedges [5]. - Precious metals are solidifying their status as core safe-haven assets, with gold targeting $7000 and silver aiming for $150, highlighting the importance of monitoring Federal Reserve policy shifts and geopolitical developments for investment opportunities in the ongoing commodity bull cycle [5].

Group 1 - Texas has become the first US state to purchase Bitcoin for its treasury, acquiring $10 million as part of a strategic initiative during a market pullback [1][5] - The transaction was executed through BlackRock's spot Bitcoin ETF, providing a regulated entry point for the state [2] - The acquisition is part of a broader reserve strategy aimed at developing infrastructure and oversight for digital assets, with the goal of testing workflows and risk management [3] Group 2 - The move signifies a growing institutional interest in Bitcoin, supported by strong ETF inflows and participation from major financial firms [4] - While the $10 million investment is a small portion of state reserves, its symbolic impact is significant as it marks the first instance of a US state treating Bitcoin as a treasury-level asset [5] - Texas's actions may influence other states to consider digital asset exposure, potentially sparking discussions on reserve diversification and long-term fiscal planning [5][6]