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Bank of America says gold can still hit $6,000, just not anytime soon
The Federal Reserve’s new tightening bias has created significant hurdles for the gold market, forcing one bank to curb its bullish enthusiasm for the time being. When gold started its unprecedented rally last year, Bank of America was one of the most bullish voices in the market. In January, the bank said it expected gold prices to hit $6,000 an ounce by the spring. However, the significant correction over the last few months has prompted the bank’s metals research team, led by Michael Widmer, to revise its short-term outlook. “Hitting our $6,000/oz target looks unlikely for now. But the ongoing U.S. macro ... (full story)
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- Jun 22, 1:20pm | 3 hr ago Posted byFundamental Analysis60
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