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Bank of America warns of potential gold price collapse and advises gradual buying
Bank of America warned of a continued decline in gold prices throughout this year, indicating that this correction could resemble the sharp corrections seen after the peaks of 1980 and 2011. They expect the price to fall to a range of $3,250–$3,450 per ounce if negative trends persist. The bank explained that certain technical signals, such as the formation of a "death cross" pattern and an increase in net buying positions, suggest a possible continuation of the downward movement, although the current correction remains short compared to the previous upward trend. Additionally, the bank recommends a gradual purchasing strategy, including buying limited amounts when prices drop below $4,000, increasing holdings between $3,600 and $3,700, and reaching full investment once the price declines to between $3,250 and $3,450.
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