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Gold could hit $3000/oz over next 18 months: BofA ML’s Francisco Blanch

Updated : September 29, 2020 02:24 PM IST

Gold prices are set to hit $3000 per ounce over the next 18 months, Francisco Blanch, Global Head-Commodities & Derivatives Research, Bank of America Merrill Lynch, said in an interview with CNBC-TV18.

Gold prices had been rising till recently on fears of weak economic growth globally hurting demand for financial assets. However, gold prices have been under pressure over the last week, as outlook on the US economy has improved, and some investors are moving a part of their holdings into the dollar as a currency as well as through purchase of US Treasury Bills.

To check out Blanch’s views on silver and crude prices, watch video
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