Bank of America Reiterates $2,400 Gold Target

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Bank Of America,Gold,Target

Bank of America reaffirms its target of $2,400 an ounce for gold, stating that the precious metal is less dependent on U.S. interest rates and monetary policy. Central banks are expected to continue buying gold to diversify their foreign reserves.

Let me know remind of you of two new excellent shows: Digging Deep with Paul Harris where he has in-depth discussions with mining's top thinkers, and Green Rush with Matt Watson, which looks at top trends in the critical minerals space. Subscribe to our YouTube channel to not miss a single episode.Bank of America, which was one of the most bullish banks on gold at the start of the year, reiterated its target of $2,400 an ounce.

The Labor Department's closely watched employment report on Friday also showed the unemployment rate fell to 3.8% last month from 3.9% in February. The decline in the jobless rate reflected a sharp rebound in household employment, which more than absorbed the 469,000 people who joined the labor force, that according to Reuters.

Japan’s refined copper production in the first half of the 2024/25 financial year is expected to rise 4.2% from a year earlier. Reuters said the jump is due to stronger local demand from the chip industry. - The gold market continues its unstoppable run to record highs as it touches an all-time high of $2,350 an ounce ahead of the weekend.Gold’s 2024 price ceiling is now the floor, silver is approaching ‘sweet spot’ for investors – MKS Pamp

 

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