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BofA's gold price forecast yo-yos as inflation looms

Bank of America Corp has shaved nearly US$1,000/oz off its gold price forecast for 2021, pointing to an inflation-led increase in long-term interest rates as a potentially bearish driver.

BofA's gold price forecast yo-yos as inflation looms BofA's gold price forecast yo-yos as inflation looms BofA's gold price forecast yo-yos as inflation looms BofA's gold price forecast yo-yos as inflation looms BofA's gold price forecast yo-yos as inflation looms

Bank of America sees softer fundamentals for gold in 2021 on the back of global economic recovery

BofA's latest forecast of US$2,063/oz, issued Tuesday, comes seven months after the bank jacked up its 2021 price outlook by 50% to $3,000/oz at the height of pandemic-related uncertainty.