Bank of America on Friday raised its average gold price forecast for the next six years by 6% to $3,049 per ounce, citing President Donald Trump's threats to undermine the Federal Reserve's independence among other factors. The Wall Street investment bank said it remains bullish on gold, "with a short-/medium-term target of US$4,000/oz." The bank left its near-term forecasts unchanged with gold forecast to hit $3,356 this year and $3,659 next year. Gold is viewed by investors as a safe-haven asset during times of financial and geopolitical instability. Trump's repeated attacks on the Federal Reserve are raising concern in some corners of the market that the U.S. central bank's capacity to make independent monetary decisions is at risk. Gold futures have been on a tear this year, gaining ab
Bank of America raises gold forecast, noting threat to Fed independence

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