Bank of America: Gold prices may reach $5,000 by 2026
Jinse Finance reported that Bank of America stated gold prices could reach $5,000 per ounce by 2026, with the bank believing that the driving forces behind the recent surge in gold prices will persist. The strategist team led by Michael Widmer believes that gold is currently "overbought" but still "underinvested," and that the United States' unusual economic policies are providing support. Bank of America expects the average gold price next year to reach $4,538 per ounce, noting that tight mine supply, low inventories, and uneven demand are the main reasons. The bank also raised its price forecasts for copper, aluminum, silver, and platinum in 2026, but stated that palladium remains in oversupply.
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