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Aug 11 - 02:55 PM

USD: $3000/oz In Gold & $35/oz Feasible Next Year- BofA

By eFXdata  —  Aug 11 - 12:45 PM

Bank of America Global Research discusses Gold and Silver outlook and forecasts over the coming year. BofA's official end-2021 forecast for Gold is $2,213/oz and for silver is $31.25/oz. 

"Gold has rallied over falling real rates. Continued fiscal spending as governments are mending the damage from COVID-19, backstopped by central banks means that interest rates will likely remain low, at the same time as the economy reflates. Financial repression may be with us for a while, so we reinforce our $3,000/oz forecast,"BofA notes. 

"Silver benefits from this macro backdrop too, but demand should also strengthen on the back of the green stimulus; we see $35/oz feasible next year, but highlight that the white metal could rally to $50/oz in the medium-term,"BofA adds. 

Source:
BofA Global Research

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