It seems like the precious metals rally is far from over. The markets are favoring metals at a rapid pace, with the dollar and USD-backed assets taking a back seat at the moment. Bank of America has come up with its recent price forecast for gold and silver, revamping its earlier predictions to accommodate the exploding demand for the metals. BofA now predicts the gold price to hit $5K, with silver exploring $65 in 2026, as both metals continue to trend high on investors’ radar.
Also Read: Gold Price: $9K Target Could More Than Double a $1K Investments
Bank Of America Bullish On Gold And Silver
Gold and silver are the two mainstream assets that have been rising rapidly in the market as of late. Gold price has breached the $4000 price mark, fueled by global demand and the metal’s identity as a stable safe haven asset. Silver is also gaining traction rapidly, driven by its rising commercial and industrial usage.
With these current aspects in mind, Bank of America has now revamped its earlier prediction about the assets; BofA now predicts gold to hit $5000 in the near future.
“Although silver gained 45% over the past 2 months, the gold-to-silver ratio has not broken down the key support level. It is possible that silver makes its first correction after testing $60. Ultimately, gold price could go to $5k and silver to $100 in the present cycle. We are in uncharted territory. This post is not investment advice…” As stated by expert Rashad Hajiyev
BofA Expects Temporary Price Corrections For Both The Assets
The Bank of America was quick to outline a brief trajectory for gold and silver prices, adding that temporary corrections may continue to correct their prices. However, the bank later shared how both metals may continue to leverage the market instability to soar high in momentum.
“The White House’s unorthodox policy framework should remain supportive for gold given fiscal deficits. Rising debt, and intentions to reduce the current account deficit/capital inflows. Along with a push to cut rates with inflation around 3%.” The bank added.
Also Read: Why Silver & Ethereum Deserve a Spot in Your Portfolio: 2 Key Reasons
