*First Look: BOA Raises Bar (and soon price) on Gold
Founders AM |
Housekeeping: Good Morning.
Quick Comments:
This is the research that backs Hartnett’s Bullish tone. It’s going to take a couple days to digest it. Look for it in Premium Friday broken down and written up. Time permitting, it will also get a full “Hartnett” treatment
For now. BOA differentiates itself by focusing on and quantifying 2 things noone else has
China insurance company buying is confirmed and factored in.
CB targets for Gold holdings as a % of reserves shows they may be only about 1/3 of the way to their goal
Bullion Bank Drama:
Recall a couple months ago when GS “Pushed back” against other banks saying their target was too high? BOA now openly pushes back against “other banks” saying their targets are too high.
Here are some Bullion bank price targets for Gold in 2025 as compiled by GoldFix to help narrow things.
Gold Price Targets:
JP Morgan: $2850-2950 for 2025
Goldman Sachs: $3,100- $3,300 average
Citibank: three-month gold price target to $3,200
Bank of America: reach $3,500 per ounce by the end of 2025
UBS: reach $3,200 per ounce by June 2025
Morgan Stanley: reach $2,700 by Q4 2025