Gold remains on the path to $4,000 as the US dollar weakens - Bank of America

Gold prices surged to a one-month high above $3,400 an ounce Thursday, supported by persistent U.S. dollar weakness. Analysts at Bank of America expect the rally to continue, maintaining their forecast that the yellow metal will hit $4,000 an ounce by the first half of 2026. In a report published last week, the bank said falling interest rates and a weaker dollar will underpin the metal’s gains. “Potential rate cuts amid increasing inflation create fertile ground for dollar depreciation,” analysts wrote. “Rate cuts in an environment of continued elevated inflation would, in all likelihood, push the precious metal higher.” Spot...