JPMorgan has revised its gold price forecast, now projecting $4,300 per ounce for the third quarter and $4,500 per ounce for the final quarter of 2024. The financial institution previously anticipated the metal would climb to $6,000 per ounce by the end of the year, which would have represented a 40% increase from its current value. The bank attributed this downward adjustment to the potential for interest rate increases and lower demand than initially projected across major sectors.

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