Getty Images; Alyssa Powell/BITraders and central banks should increase exposure to gold, Bank of America says.The strategists say Treasurys face risks as US debt levels soar. The analysts see gold hitting $3,000 an ounce by the end of next year, implying 11% upside.Gold is increasingly attractive as other traditional "safe haven" assets face mounting risks, Bank of America strategists said.The strategists said investors, including central banks, should rotate into the precious metal, which bulls tout as a hedge against inflation and debt debasement resulting from rising government borrowing.
Similar Stories to Gold Is The 'last Safe Haven' As Treasurys Face Risks From Soaring Us Debt, Bank Of America Says on Bing News
kcloonan@insider.com (Kelly Cloonan), Business Insider
Thu, 10/17/2024 - 10:22am
Topics: gold looks to be the last images alyssa powell/bitraders treasurys international monetary fund ultimately us treasury federal reserve business insider bank america gdp soaring debt safe haven analysts central asset spending share strategists increase reserves metal attractive interest ounce increasingly said.the rate payments markets absorb year investors world including levels mounting exposure concerns
BING NEWS:
- Gold is the 'last safe haven' as Treasurys face risks from soaring US debt, Bank of America says
Bank of America strategists see 11% upside for gold by the end of next year as the Treasurys are threatened by soaring US debt levels.
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The expected interest rate cuts by major central banks, along with geopolitical risks stemming from the ... in 2023 underscored Gold's appeal as a safe-haven asset in uncertain times.
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