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Bank of America backs away from big 2021 gold call

BANK of America has tempered its 18-month outlook for gold, that gave the precious metal runway to US$3000/oz amid pandemic-induced uncertainty. It says an uplift in US inflation could also come with higher long-term interest rates next year, resulting in a softer outlook for the haven metal.

Henry Lazenby
Bank of America sees softer fundamentals for gold in 2021 on the back of global economic recovery

Bank of America sees softer fundamentals for gold in 2021 on the back of global economic recovery

The bank in April increased its 18-month outlook for gold by 50%, only to adjust it back to $2063/oz for 2021. BofA head of commodities and derivatives research, Francisco Blanch, said gold had been...

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