BANK OF AMERICA: Gold Still Has Upside, Despite New Record High Gold prices have surged to record highs and Bank of America (BofA) Securities forecasts even further growth ahead. On Thursday, spot gold reached a new peak of $2,222.14 per ounce, while gold futures neared a record $2,224.80. This rally was fueled by the Federal Reserve’s hints at possible rate cuts within the year, which weakened the U.S. dollar and, in turn, elevated gold’s appeal. Over the past two years, rising interest rates had negatively impacted gold, but BofA now highlights gold as a prime investment for 2024. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Turkish Markets Rally as Inflation Shows First Signs of Cooling READ MORE Citi Analysts See Gold's Highs Continuing READ MORE The Day the Hunt Brothers Capped the Price of Gold (Part I) READ MORE Dovish Fed Signals Propel Gold to New Heights READ MORE Powell Signals Delay in Rate Cuts Amid Ongoing Inflation Concerns READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment