Bank of America Calls Gold the Ultimate Safe Haven, Predicts Price Surge to $3,000

Bank of America advises traders and central banks to boost their gold exposure amid rising U.S. debt concerns. In a recent report, strategists highlighted that increasing debt levels threaten Treasurys, positioning gold as a vital safe-haven asset.

The bank projects gold could hit $3,000 per ounce by the end of 2025, reflecting an 11% increase in value. Analysts warn that escalating U.S. interest payments and potential market reluctance to absorb debt could heighten gold’s appeal.

Following the Federal Reserve’s decision to cut interest rates, gold prices rose 4.3% in the past month, reinforcing its status as a critical hedge against financial instability.

Clever Robot News Desk 27^th October 2024