5/21, 5:41 PM (Source: TeleTrader)
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JP Morgan predicts currency debasement

JP Morgan predicted that the ongoing coronavirus pandemic will lead to currency debasement in s report published on Thursday.

According to the financial giant, the debasement and the current economic instability will also lead to the rise in prices of gold: "Those who see in the major currencies just different shades of the same long-term liabilities should simply remain long the world's legacy reserve currency – gold."

The prices of gold have recently achieved their all-time highs in euro, Swiss francs, and pound sterling. At 11:39 am ET, gold traded 1.46% lower to sell for €1,722.57 per ounce.

Breaking the News / JR