Bank of America has raised its outlook on gold, setting a much higher price target for next year. Right now, gold trades near $3,330 per ounce, up more than 40% over the past year. Right now, gold trades near $3,330 per ounce, up more than 40% over the past year.(Pexels) The bank now expects gold
Investing.com — The rally in precious metals is no longer just about gold, as “silver and platinum close the gap to gold prices,” according to Bank of America (NYSE:BAC). The market for precious metals is broadening, the bank said in a note Friday. While gold hit an all-time high of $3,500/oz earlier this year, other
JPMorgan Chase and Bank of America say the US stock market’s recovery will likely be short-lived. JPMorgan’s trading team believes that the US stock market has a bit more upside potential in the near term amid the de-escalation of President Trump’s trade war, reports Bloomberg. But the firm warns that the true impact of Trump’s
Three of the largest banks in the US say one of the year’s best performing assets still has more room to run to the upside. Starting with Bank of America, head of metals research Michael Widmer says that while the precious gold may witness a short-term pullback after hitting a new record high of $3,085,
(Bloomberg) — The UK government should radically alter its approach to debt management and buy back long-dated bonds, according to researchers at Bank of America Corp. Most Read from Bloomberg The UK can ease debt pressure through selling much more short-dated debt, including bills, as well as buying back long-dated gilts that trade at a
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By Harry Robertson LONDON (Reuters) – Investors poured $37 billion into cash-like money market funds (MMFs) in the week to Wednesday, Bank of America said on Friday, as they braced for the U.S. Federal Reserve to cut interest rates in September. It put MMFs on track for their biggest three-week cumulative inflow since January at