This is what it will take to drive gold prices to $3,500

The Bank of America and Kitco News have recently analysed the variables influencing the price of gold. They project a significant increase may drive the price to a mind blowing $3,500 per ounce. This forecast is influenced by several potential macroeconomic conditions such as inflation concerns, lower real rates, and geopolitical uncertainty. However, attaining this peak demands a perfect blend of these conditions along with an unfailing demand for the precious metal.

Investors seeking to hedge against volatility in the market, are turning to gold as a preferred, safe haven asset. With steady and robust demand, fine-tuned supply, and conducive macroeconomic conditions, gold prices may indeed surge up to the speculated value. The Bank of America and Kitco News will closely monitor and continue to report on the changes in the global economy and the implications for the gold market. Read More