Tuesday, September 16, 2025

Bank of America Targets Gold Prices to Reach $3000

The Bank of America has increased its 18-month gold target from $2,000 to $3,000 per ounce to coincide with the various monetary and fiscal policies being put into action amid the coronavirus pandemic. The target was provided in a report entitled “The Fed can’t print gold,” which succinctly provides the justification for the price target.

When an economy suddenly shrinks its output, bank balance sheets rise significantly, meanwhile the government responds by increasing fiscal expenditure. Such commotion can cause fiat money to become essentially worthless, thus reducing the store of value to only physical commodities such as precious metals.

Bank of America is anticipating bullion gold, which is the emergency currency of choice by governments and private investors alike, to reach an average of $1,695 per ounce in 2020, and then is expecting it to continue increasing to at least $2,063 in 2021. Thus far, the record for the highest bullion gold prices was set in 2011, at a price of $1,921.17 – a record which is very attainable given that spot prices have already increased by 11% thus far this year.

Even with Gold’s recent run, the price hasn’t changed much relative to the Dow.

Gold prices are still faced with several obstacles which may prevent them from soaring to extraordinary levels, such as reduced demand for jewelry in China and India, decreased economic volatility, as well as a potentially strong dollar.

Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Aux Resources: Anticipation Of Assay Results

It’s been well noted that we have been following AUX Resources Corporation (TSXV: AUX), a...

Tuesday, October 20, 2020, 11:31:00 AM

GMV Minerals Receives Permits For Mexican Hat Drill Program

GMV Minerals (TSXV: GMV) this morning announced that it has received the go-ahead for its...

Tuesday, June 15, 2021, 09:01:22 AM

Great Bear Updates With More Great Results

Yesterday Great Bear Resources (TSXV: GBR) reported results from their ongoing $21 million exploration program...

Tuesday, May 5, 2020, 08:45:09 AM

AUX Resources To Be Acquired By Scottie Resources

Aux Resource Corp (TSXV: AUX) is set to be acquired by that of Scottie Resource...

Monday, April 12, 2021, 08:32:45 AM

Spotlight Series: SKRR Exploration With Chairman Ross McElroy

Welcome back to the Spotlight Series. Today we are looking at SKRR Exploration (TSXV: SKRR),...

Tuesday, June 30, 2020, 11:11:38 AM