Gold Going To $3,000 / oz Within 18 Months

(July 29, 2020 - Eamonn Sheridan)

Bank of America is bullish on gold and seeing higher prices for longer.  

• maintain its forecast from April for $3,000 gold over the next 18 months.

I posted earlier on an opposing view from JP Morgan, they see gold topping out soon

• said US real yields falling much deeper into negative territory looks unlikely
• inflation to probably stay significantly under 2% (the Fed's target) & US jobs market facing significant slack into 2021

Other gold forecast updates posted earlier;

• Here's a forecast for gold to ... $2,300 / oz
• Gold around $2,000 - this may be the "new normal"
• Goldman Sachs 12 month forecast for gold is US $2300 / oz (from previous $2000)
• JP Morgan expect gold rally to lose momentum in the months ahead