JPMorgan: Gold is the preferred commodity to hedge against the U.S. election

ChainCatcher news, gold futures rose 0.2% to above $2750 per ounce. JPMorgan analysts stated in a report that gold is the preferred commodity to hedge against the upcoming U.S. elections. JPMorgan indicated that a victory for Harris would signify continuity in policies and a trend of growth, while a victory for Trump could lead to significant policy changes.

Therefore, if Republicans sweep the elections under Trump's leadership, gold and silver may rise further under the influence of market uncertainty. JPMorgan stated that, in any case, gold should continue to be supported by structural bullish factors, including growing concerns over the increase in U.S. fiscal debt and support from the Federal Reserve's interest rate cycle.