**Bank of America Suggests Buying as Gold Prices Fall—Will Next Year Still Be a Bull Market for Gold?**

Bank of America has not abandoned its bullish view on the international gold price. The bank’s analysts warned that there could be further room for the current pullback, but they also believe that the decline in the international gold price is a good time to buy.

Bank of America analyst Paul Ciannna said he expects the current pullback in the international gold price to take more time. Ultimately, the international gold price may test support around $3,600 per ounce before it can find a more solid bottom.

Ciannna believes that lower prices will give investors a buying opportunity. International gold can be considered when it falls below $4,000 per ounce, but downside risks still remain; therefore, he is more inclined toward the $3,700–$3,600 per ounce range, or even the $3,450–$3,250 per ounce range.

Bank of America still believes that the international gold price could reach the level of $6,000 per ounce in 2027. The bank’s equity analyst said that gold mining has become one of the most profitable industries in the market.

Fidelity International multi-asset portfolio manager Iain Samson also believes that the key factors that could push the international gold price up to $5,600 per ounce still remain. He expects that in 2027, the international gold price could re-enter a bull market, which would shift investors’ allocations from standing by to a bullish stance, viewing gold as a preferable allocation target over other assets.

Samson said he plans to increase his gold holdings again. The question now is when to take action. From a tactical perspective, the international gold price currently faces both resistance and opportunities. It is expected that by the end of this year, the international gold price will be slightly higher than its current level. At some point in 2027, the international gold price will re-enter a bull market again, and demand from banks in various countries is the most important structural force supporting the international gold price over the medium to long term.

(The above does not constitute investment advice or trade/transaction instructions; it reflects the author’s personal views and does not represent the position of this platform.)