preloader icon



Apex Trader Funding (ATF) - News

Bank Of America Sees Gold At $3,000, Warns Of A Copper Supply Crisis: Metals 'Dance To Their Own Tune'

Gold prices are projected to jump to $3,000 per ounce by 2025, according to Bank of America, buoyed by strong demand from central banks and the anticipation of investors returning to the market once the Federal Reserve begins to slash interest rates. Michael Widmer, the bank’s commodity strategist, highlighted gold’s resilience as central banks tighten monetary policies. “Gold prices have been remarkably resilient in recent months, notwithstanding central banks around the world tightening monetary policy,” said Widmer. The Chinese central bank, in particular, has played a significant role in supporting the gold market, amassing over $200 tonnes of the yellow metal in 2023 alone. This elevated buying also depends on the heightened activity in China’s retail sector, with jewelry sales and non-monetary gold imports “hitting record highs earlier this year.”  “If the Fed ultimately starts cutting rates, investors should return to the market, also offsetting potentially lower Chinese investment demand as sentiment there improves and ...