The gold markets have been experiencing sharp fluctuations recently, but Bank of America analysts believe that the factors supporting the precious metal are still strong enough to push its prices above the $6,000 per ounce level in the next few months, in one of the boldest predictions in the global markets.
Michael Widmer, a strategist at Bank of America, said in a recent research note that the bank is aware of concerns related to the expected pace of increase in gold prices, but past experience suggests that recent upward waves have not stopped as a result of overbuying, but rather due to a temporary decline in the factors that have boosted the appeal of precious metals.