Earlier this week, Bank of America analysts revealed that gold might reach $3,000 in the next 18 months, pushed by central bank demand and a Federal Reserve dovish turn. “Achieving this would require non-commercial demand to pick up from current levels, which in turn needs a Fed rate cut to happen,” Bank of America analysts communicated in a note directed to investors. The current market conditions do not justify this price level right now, Bank of America warned, as analysts estimated that a rise of 20% in demand could take prices to $2,500. Before, bank analysts had predicted a similar hike could happen in 2023.
Bank of America Forecasts Gold Reaching $3,000 in the Next 18 Months
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
