More Major Banks Predicting Gold Will Climb Even More
In 2019, BankAmerica Securities, a division of Bank of America, told investors that their portfolios should contain 25-percent gold. Fast forward to April 2020, 
and Bank of America is now seeing potential gold prices being pushed to $3,000 an ounce in 2021 – a 50-percent increase from their previous forecast of $2,000 an ounce. “You can’t print gold,” wrote a Bank of America Analyst. “As economic output contracts sharply, fiscal outlays surge, and central bank balance sheets double, fiat currencies could come under pressure. And investors will aim for gold.” 1st American Reserve’s numismatic consultant, Dr. Mike Fuljenz, notes that recent actions by Federal Reserve have now boosted the Fed’s balance sheet by 50% to $6.42 trillion as it continues to “print” more money. Technically, the Federal Reserve has no printing presses but it can release more money, or credit, into the system with a few keystrokes. History has demonstrated that when large, established mainstream financial institutions start promoting gold investments the gold market begins to take off and a large group of new gold investors is created. Then, within 6 to 24 months, a significant proportion of those new bullion customers (maybe 10% to 20%) graduate up to the tighter rare coin market.
and Bank of America is now seeing potential gold prices being pushed to $3,000 an ounce in 2021 – a 50-percent increase from their previous forecast of $2,000 an ounce. “You can’t print gold,” wrote a Bank of America Analyst. “As economic output contracts sharply, fiscal outlays surge, and central bank balance sheets double, fiat currencies could come under pressure. And investors will aim for gold.” 1st American Reserve’s numismatic consultant, Dr. Mike Fuljenz, notes that recent actions by Federal Reserve have now boosted the Fed’s balance sheet by 50% to $6.42 trillion as it continues to “print” more money. Technically, the Federal Reserve has no printing presses but it can release more money, or credit, into the system with a few keystrokes. History has demonstrated that when large, established mainstream financial institutions start promoting gold investments the gold market begins to take off and a large group of new gold investors is created. Then, within 6 to 24 months, a significant proportion of those new bullion customers (maybe 10% to 20%) graduate up to the tighter rare coin market.
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