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#夏日创作营 Bank of America suggests buying as gold prices fall—will next year still be a gold bull market?
Bank of America has not abandoned its bullish view on international gold prices. The bank’s analyst warned that the current pullback may still have further room to extend, but it also believes that a drop in international gold prices is a good time to buy.
Bank of America analyst Paul Chianna said he expects the current pullback in international gold prices to take more time. International gold prices may ultimately test support around $3,600 per ounce before it can find a more solid bottom.
Chianna believes that lower prices will give investors an opportunity to buy. When international gold prices are below $4,000 per ounce, investors could consider entering, but downside risks remain, so he is more inclined to the $3,700–$3,600 per ounce range, or even the $3,450–$3,250 per ounce range.
Bank of America still expects international gold prices to reach $6,000 per ounce in 2027. The bank’s equity analyst said gold mining has become one of the most profitable industries in the market. Ian Samson, multi-asset portfolio manager at Fidelity International, also said the key factors that drive international gold prices up to $5,600 per ounce still exist. International gold prices are expected to re-enter a bull market in 2027, which would shift investors’ allocation outlook from waiting to bullish—treating gold as a better allocation target than other assets.
Samson said he plans to increase his gold holdings again. The question now is when to act. From a tactical perspective, international gold prices currently face both as many opportunities as challenges. It is expected that by the end of this year, international gold prices will be slightly higher than current levels. At some point in 2027, international gold prices will re-enter a bull market, and demand from central banks across countries is the most important structural force supporting international gold prices over the medium and long term. $XAUUSD
Bank of America has not abandoned its bullish view on international gold prices. The bank’s analyst warned that the current pullback may still have further room to extend, but it also believes that a drop in international gold prices is a good time to buy.
Bank of America analyst Paul Chianna said he expects the current pullback in international gold prices to take more time. International gold prices may ultimately test support around $3,600 per ounce before it can find a more solid bottom.
Chianna believes that lower prices will give investors an opportunity to buy. When international gold prices are below $4,000 per ounce, investors could consider entering, but downside risks remain, so he is more inclined to the $3,700–$3,600 per ounce range, or even the $3,450–$3,250 per ounce range.
Bank of America still expects international gold prices to reach $6,000 per ounce in 2027. The bank’s equity analyst said gold mining has become one of the most profitable industries in the market. Ian Samson, multi-asset portfolio manager at Fidelity International, also said the key factors that drive international gold prices up to $5,600 per ounce still exist. International gold prices are expected to re-enter a bull market in 2027, which would shift investors’ allocation outlook from waiting to bullish—treating gold as a better allocation target than other assets.
Samson said he plans to increase his gold holdings again. The question now is when to act. From a tactical perspective, international gold prices currently face both as many opportunities as challenges. It is expected that by the end of this year, international gold prices will be slightly higher than current levels. At some point in 2027, international gold prices will re-enter a bull market, and demand from central banks across countries is the most important structural force supporting international gold prices over the medium and long term. $XAUUSD