Gold Needs Shock for Price to Break Away: BofA’s Blanch

Precious Metals Market Overview - Gold price reached 3325, showing a year-to-date increase of over 26% [1] - The market anticipates a potential double top for gold in the first half of the year, suggesting a need for a significant market shock to drive prices higher in the second half [1] - A $4,000 target for gold is projected, potentially materializing by 2026 [2] Performance of Other Precious Metals - Platinum is experiencing significant upward momentum, with prices hitting 1200 this morning and potential for further gains [2] - Platinum is expected to outperform palladium, which is also seeing price increases [2] - Silver is currently trading at 36 and is projected to reach 240 [3] Factors Influencing Precious Metals - Geopolitical factors and a worsening US budget deficit could provide further upward momentum for precious metals prices [3] - The second half of the year may not be as strong for gold compared to the first half [3]