19/05/2026
Michael Widmer, Managing Director and Head of Metals Research at Bank of America (BofA), expects gold to face short-term pressure due to declining market expectations for US interest rate cuts.
However, Widmer said in an interview with Asharq that the bank maintains a bullish outlook on the precious metal, reiterating its forecast for gold to reach $6,000 per ounce within 12 months.
The current pressure on gold is linked to markets repricing inflation risks and the US interest rate path, amid rising energy prices driven by the war in the Middle East, he explained.
He added that gold is expected to continue climbing despite these pressures, supported by central banks’ purchases, renewed investor demand, and weakening economic growth indicators.
Source：https://www.argaam.com/en/article/articledetail/id/1907225?amp
