According to Bank of America’s latest outlook, precious metals could be entering one of their strongest multi-year phases — with gold and silver both projected to reach historic price levels by 2026.
Gold: The Ultimate Safe-Haven Asset
BofA forecasts gold to average around $4,538 per ounce in 2026, with a bullish scenario extending toward $5,000 per ounce.
The drivers behind this outlook remain firmly intact:
Tightening miner supply and rising production costs
Persistent demand for inflation protection amid macro uncertainty
Continued underinvestment in mining despite record-high prices
Historically, gold bull markets end when fundamentals weaken. According to BofA, the opposite is happening — fundamentals are strengthening.
Silver: The High-Beta Opportunity
Silver is expected to average approximately $56 per ounce, with potential upside toward $65 per ounce in peak conditions.
Key catalysts include:
Structural supply deficits
Strong and growing industrial demand (solar, EVs, electronics)
A gold-to-silver ratio that still leaves room for catch-up gains
Silver’s dual role as both a monetary and industrial metal gives it higher volatility — and potentially outsized returns during strong macro cycles.
Macro Takeaway
In an environment defined by inflation uncertainty, geopolitical tension, and liquidity concerns, precious metals are regaining strategic importance.
Gold offers long-term stability and capital protection
Silver provides leverage to both economic growth and monetary debasement
As macro narratives continue to shape markets, positioning ahead of consensus remains key.
📌 Assets in focus: Gold, Silver, and related narrative plays such as $GOAT
