Gold has entered a new bull market — JPMorgan

Gold prices are surging this year, and that has one of Wall Street’s largest banks flocking to the yellow metal.

“We’re recommending our clients to position for a new and very long bull market for gold,” JPMorgan Private Bank’s Solita Marcelli said Tuesday on CNBC’s “Futures Now.” After seeing three back-to-back years of losses, the precious metal has rallied 20 percent in 2016.

And that’s just the start of the next leg higher, according to Marcelli. “$1,400 is very much in the cards this year.”

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