Bank of America has projected gold could surpass $6,000 per ounce within the next 12 months, citing Federal Reserve leadership uncertainty as a key driver. The bank also sees potential for silver to rebound above $100 per ounce. Meanwhile, JPMorgan raised its long-term gold price forecast to $4,500, and other analysts have presented more bullish long-term targets for both precious metals.
Bank of America has forecast that gold is on track to hit $6,000 per ounce in the near future. The bank stated gold could potentially surpass that level within the next 12 months.
This prediction is driven by uncertainty surrounding Federal Reserve leadership, as noted in the bank’s analysis. As per the latest Bank of America forecast, the metal is now aiming for the $6,000 price mark.
The bank’s statement said, “Gold targets $6,000/oz, Bank of America says.” It added that silver faces more near-term risks but could eventually rebound above $100 per ounce.
In a separate outlook, JPMorgan believes gold may reach $4,500 in the near future. This forecast is also attributed to geopolitical uncertainty and the Federal Reserve’s stance on interest rates.
Leading financial expert Rashad Hajiyev has presented a different long-term opinion. Hajiyev suggested gold is capable of hitting $8,000, with silver potentially reaching $250.
He elaborated on this view in a social media post, stating, “With gold at $7.5k and GTS at 30 one should expect $250 silver price.” Hajiyev further noted that if the gold-to-silver ratio declined further, silver could theoretically soar to $400.
