Bank of America expects precious metals to extend their rally into 2026.
- Forecasting gold at $5,000 an ounce and silver at $65 an ounce.
Analysts at the bank said the White House’s unconventional policy approach, marked by:
- large fiscal deficits,
- rising debt,
- and pressure to lower interest rates
should continue to support demand for gold. Those policies, it said, are likely to weaken the U.S. dollar and reinforce demand for hard assets as investors hedge against inflation and policy uncertainty.
The bullish call underscores BofA’s view that gold’s multi-year rally is not yet over, even after record highs in 2025, as macro and political conditions continue to favour safe-haven flows.
