of America commodity analysts just keep getting more bullish on gold as the
weeks go by.
bank said in a report last week that gold ’s technical momentum could drive
prices to an all-time high this year; in a new report published Tuesday,
analysts have officially increased their bullish outlook, saying that gold
prices could hit $3,000 within 18 months, a 50% increase from its previous
with increasing its 18-month target, the bank said that it sees gold prices
averaging $2,063 an ounce in 2021.
economic output contracts sharply, fiscal outlays surge, and central bank
balance sheets double, fiat currencies could come under pressure. And investors
will aim for gold,” the analysts said.
a strong U.S. dollar and weak physical jewelry demand in Asia could be
headwinds for the gold market, the analysts said that the Federal Reserve has
provided enough momentum to propel investment demand and prices higher.
at Bank of America have warned that the Federal Reserve’s balance sheet as a
percentage of GDP could rise 20% to 40% this year. According to reports last
week, the Federal Reserve’s balance sheet hit a record high of $6.42 trillion,
up more than 50% from levels reported during the first week of March.
analysts noted that the Federal Reserve: “Can’t print gold.”
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