$3,000 Gold Price Forecast from Merrill Lynch/BOA

Sell-side comments from a firm with a good track record on gold and commodities:

 

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Price of gold is $3125 right now, anyone amazed?

 

No/ still undervalued.....

 

Not at all, in fact, the trend indicates it is going (much) higher.....the slow steady pace of the rise indicates gold is being accumulated by STRONG HANDS and individuals and institutions do NOT believe in the move upward.

I hate to use the analogy -- because then folks will want to multiple the starting price by 20 to duplicate the rise 50 years ago -- but the up move looks a bit like that in the 1970's. It's not too fast (gold didn't go nuts until 1979-80) and it's letting people get on board.

 

There are, of course, always opposing voices:

https://www.kitco.com/opinion/2025-03-31/gold-final-stages-its-decade-long-rally

Maybe Kitco's having trouble finding enough people willing to sell to them...?

 

of course, there R

 

I'm a little annoyed. At Costco this past Sunday, they had 1oz gold Pamp bars for only $3,099 each...when spot was ~$3,040.

Should have bought one.....[/sadface]

 

The goal of the bullion dealers -- and this goes back to my clients 30-35 years ago when they were buying Saints and I let it go in one ear and out the other -- is to sell folks numismatic coins where they can charge a premium and maybe a mark-up on top of that.

Any idiot can see what the price of gold is, especially today with the Internet. But numismatic coins hide the premium and mark-up.

With bullion dealers no longer selling common Saints and other coins at a 20% markup but now having to charge 50% or more for the coins and very little numismatic premium on top of that....it's a Brave New World for buyers and sellers....and NEITHER might be happy where we are.

Only folks who already owned lots of bullion and/or high numismatic (large premium) gold coins are happy.

 

But, numismatic gold coins are beautifull and fun to have. I don't see that with Krugerrands/ Mapleleafs....

 

Gold and Silver don't like the tariffs either

 

No kidding. I just looked at the charts and swallowed my chewing gum.

 

OUCH!!!!

 

Gold has held up better than other asset classes....if you have chaos, the yellow metal is good.

 

Precious metals are OK in bad or good times. They can print zillions of banknotes, cannot make gold. Germany wants its gold back, wonder what will happen there. Is the gold still at Fort Knox? Did Nixon give De Gaulle back his gold?

 

Now that you mention that..... Didn't the powers that be say that they were doing an inventory of Fort Knox?

 

No OECD or Western country is printing like Zimbabwe.

They get their gold back. Means little except that the global CB buying continues.

Yes.

DeGaulle was withdrawing gold from 1965 onward.

 

They talked a lot about it. But now they want us to LOOK AT THAT OTHER SQUIRREL OVER THERE!!! instead.

 

I believe you hit the nail squarely on the head.

 

Gold up over $100 today. You 'aint seen nothing yet.

 

Whew. Thanks. I stopped looking after Sundays bloodbath.