Gold is a 'mainstay' asset for the next 3 years - BofA

From kitco.com

Gold investors have been doing a lot of "soul-searching" for the last two and a half years. But gold as an asset will take an important place in portfolios in the next three years, according to Bank of America. The precious metal ended the year flat and largely traded down and sideways since hitting those new record highs in 2020. But this is now finally changing. "Interest in gold has been muted in recent quarters compared to other asset classes, partly because rising real rates and a stronger USD have offered no incentive to increase exposure to the yellow metal," said BofA commodity strategist Michael Widmer. ... (full story)