Bank of America just stunned Wall Street with a new bold call on precious metals, raising its 2026 forecasts for gold to $5,000 per ounce and silver to $65, citing a potent mix of supply tightness, policy uncertainty, and a surge in investment demand that’s showing no signs of slowing.
On Monday, the bank’s commodity research team, led by Michael Widmer, stated that both precious metals have room to run higher despite near-term risks, particularly as investors scramble for safe havens amid ongoing U.S. fiscal imbalances and a shifting macroeconomic backdrop under the Trump administration.
