The current economic landscape, including geopolitical tensions, central bank purchases, and the upcoming U.S. presidential election, are creating a bullish environment for gold, according to analysts at JP Morgan.

As equity markets face a significant downturn, gold is being touted as a “massive buying opportunity.” Analysts predict a potential “new super bull” run for gold, especially if Donald Trump wins the election, given his previous presidency’s impact on gold prices.

The current pullback in gold prices is seen as an opportunity for investors who missed the initial surge, with experts forecasting 2024 as the “Year of the Metals.”