Gold to reach $3 000/oz —50% above its record, Bank of America says

Bank of America raised its 18-month gold-price target to $3 000/oz – more than 50% above the existing price record – in a report titled “The Fed can’t print gold.”

Analysts including Michael Widmer increased the target from $2 000 previously, as policy makers across the globe unleash vast amounts of fiscal and monetary stimulus to help shore up economies hurt by the coronavirus.