24/06/2026
Bank of America says gold can still hit $6,000, just not anytime soon
(Kitco News) - The Federal Reserveโs new tightening bias has created significant hurdles for the gold market, forcing one bank to curb its bullish enthusiasm for the time being.
When started its unprecedented rally last year, Bank of America was one of the most bullish voices in the market. In January, the bank said it expected gold prices to hit $6,000 an ounce by the spring. However, the significant correction over the last few months has prompted the bankโs metals research team, led by Michael Widmer, to revise its short-term outlook.
โHitting our $6,000/oz target looks unlikely for now. But the ongoing U.S. macro combination of high deficits, lack of fiscal consolidation and resulting funding needs โ the premise behind our original bullish gold call โ suggests there is still fuel in the tank for gold to rally again over the longer term,โ the bank said in its latest precious metals report.
Full story at Kitco:
https://www.kitco.com/news/article/2026-06-22/bank-america-says-gold-can-still-hit-6000-just-not-anytime-soon
