BOA $2500 per oz gold call A second major bank, BOA, has made it clear that if public investment demand picks up, Gold should not have a problem reaching $2500. The first was Goldman Sachs which published a report the first week of March.
Here is BOA’s operative quote:
Bottom line: non-commercial purchases do not need to increase materially to justify gold hitting $2,500/oz this year; inflows into ETFs will be critical and dynamics in assets under management will be a crucial indicator confirming whether price gains can be sustained
Over the last few months we noticed the increase in Bank attention to Gold here. In particular was the interest by BOA. First by Hartnett, then by their equity analysts who were considering Gold as a “green” metal and thoughts that vertical/lateral industry consolidation could happen since Gold and Copper mines are geologically related Today, those Bank analytical trends hit full stride.