According to CoinMeta, Citi has raised its short-term gold price target to $4,800, while JPMorgan expects the gold price to reach $5,000. Two major Wall Street institutions agree that despite the significant increase in gold prices this year, the market is still willing to increase its gold exposure. JPMorgan pointed out that core personal consumption expenditure ( PCE ) data and the Jackson Hole Conference will be key factors this week. If inflation data is strong, it could trigger a retest of the 200-day moving average for gold prices. On the contrary, if the data is weaker and the market is not convinced by the speeches at Jackson Hole, gold prices could approach $5,000 within a few days.