According to Bank of America, gold could reach $3,500 per ounce in the next two years as central banks and Chinese insurance industries drive demand. Gold won 14% this year, beating $3,000 per ounce for the first time. Geopolitical tensions and President Donald Trump’s trade war are pushing some investors into safe assets. Bank of America is seeing an average of $3,063 this year and $3,350 in 2026. [U.S. dollar] A product analyst led by Michael Widmer told clients in a memo on Wednesday. According to the bank, prices could be even higher if investment demand increases by 10%. The Chinese insurance industry can invest 1% in gold. This figure is over 30% with dynamic financial situations, access to expert insights is paramount. As a CNBC Pro subscriber, we encourage you to take part in the first exclusive, in-person CNBC Pro live event held at the iconic NYSE on Thursday, June 12th. Join ProSCarter Worte, an interactive pro clinic led by Dan Niles and Dan Ives, along with a special edition of Pro Talks with Tom Lee. You will also get the opportunity to network with CNBC experts, talent and other pro subscribers during exciting cocktail hours on the legendary trading floor. Tickets are limited!
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