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The rising trend of gold prices breaking through historical highs has triggered a wave of bullish sentiment research on Wall Street. J.P. Morgan believes that if private investors continue to increase their allocation to gold in the coming years, the price could eventually reach far beyond current levels. In a research report, J.P. Morgan strategists outlined an upward path, suggesting that by the end of this decade, the price of gold could reach around $8000 per ounce, under the premise that private sector demand continues to grow. The scenario assumes that investors will increase their portfolio allocation to gold from about 3% to around 4.6%, representing a significant increase in positions in gold and implying a huge upside potential from recent prices. The key issue for the market is whether investment flows will remain strong enough to offset the sensitivity to real yields, the U.S. dollar, and fluctuations in risk sentiment - these variables may still cause significant volatility even in a structural bull market trend.