BofA’s bullish gold call

Gold could hit $3,000 per ounce over the next 12-18 months, although current non-commercial demand only justifies an average price of $2,200 per ounce year-to-date. On the other hand, Central banks have significantly increased their gold purchases, with China's holdings rising by 8 million ounces, equivalent to $51 billion, since January 2023. This is what BofA Global Research's latest Global Metals review reported. Michael Widmer, Head of Metals Research, BofA Global Research joins CNBC Africa for more.
Mon, 08 Jul 2024 16:01:02 GMT

Related Videos

Trending Tokens