Bank of America makes a prediction: When will gold prices hit $3,000?
US investment bank Bank of America (BofA) has released price forecasts for gold and silver per ounce. According to the forecast, gold per ounce could exceed $3,000 and silver per ounce could exceed $30 within the next 12 months.
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US investment bank Bank of America (BofA) has shared its price forecasts for precious metals.
The bank announced its $3,000 scenario for gold per ounce.
WILL IT RISE ABOVE $3,000 AND $30?
The major bank predicted that gold and silver per ounce will rise above $3,000 and $30, respectively, within the next 12 months.
According to the report in Ekonomim, Bank of America also announced its expectations for copper, aluminum, and zinc.
DEFICIT EXPECTED IN ZINC
Accordingly, it stated that it expects copper and aluminum to rise to an average of $12,000 and $3,250, respectively, by 2026.
The bank noted that it expects a deficit in zinc this year, as mine supply is likely to be disappointing.