Summary
- Bank of America said gold prices are expected to reach $5,000 per ounce in 2026.
- BofA said U.S. economic and fiscal policies, mine supply shortages, and declining inventories are key factors driving gold price increases.
- BofA also raised price forecasts for major metals such as copper, aluminum, silver, and platinum, but said palladium is unlikely to turn bullish.
Bank of America (BofA) said gold prices could reach $5,000 per ounce in 2026.
On the 24th (local time), according to the economic flash channel Walter Bloomberg, BofA strategists led by Michael Widmer said that although gold has risen sharply recently, it is "overbought but still an underinvested asset." They said the United States' unusual economic and fiscal policies would continue to support gold prices going forward.
BofA expects the gold price to average $4,538 per ounce next year and analyzed that supply-side factors would also add upward pressure. Strategists explained that "mine supply shortages, low inventory levels, and an uneven demand structure are the key factors supporting the price."
BofA also raised forecasts for major metal prices such as copper, aluminum, silver, and platinum, but added that palladium is unlikely to turn bullish due to continued oversupply.
Analysts say gold prices are likely to renew record highs in the medium term following the bullish trend in 2024–2025.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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