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CIBC Lifts Gold Forecast to $6,000 on Fed and Dollar Calls
Despite recent volatility shaking the metals market, analysts at Canadian bank CIBC are doubling down on their bullish outlook for gold and silver, expecting prices to climb significantly by year-end. In a recent report, CIBC’s commodity analysts sharply raised their gold price forecast, projecting an average of $6,000 per ounce this year. This marks a substantial increase from their previous estimate of $4,500 per ounce. The bank sees a continued uptrend, with prices potentially peaking at an average of $6,500 an ounce in 2027. The bullish call comes as gold encounters fresh resistance at the $5,000 level and ... (full story)