BofA Analysts See Gold Unable to Hold Above $4,000 over Next Three Months (GLD:NYSEARCA)
7 Articles
7 Articles
BofA analysts see gold unable to hold above $4,000 over next three months (GLD:NYSEARCA)
Despite steady investment demand, Bank of America said it remains cautious on gold prices as physical demand remains weak, seeing prices unable to hold above $4K over the next three months.
The Bank of America warns against a gold price reset to $3750. In 2027, however, the precious metal could rise to $5,000.
According to BofA's report, it is difficult for gold to remain permanently above $4,000 in the short term. The reasons given are the weakening of the physical gold market and the prominence of profit-taking. BofA's...
The recent attempt at a rise in gold prices was not sustainable. In its October 12th assessment, Bank of America listed three obstacles to recovery. While the bank maintained its 2027 outlook, its short-term warning is noteworthy. The price of gold per gram could also be affected.
Regional tensions are putting pressure on gold due to volatility in oil and dollar prices. As the dollar index continues to weigh on gold, a world-renowned bank has released a new forecast for the price per ounce.
US financial group Bank of America predicts that the price of gold will average $4,000 in the fourth quarter of 2026 and $4,813 in 2027. Banker.az reports this based on the bank's precious metals report published on September 30. In the short term, the price of an ounce of gold may fall to $3,750. However, analysts […]
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