Bank of America Lays Out a Massive Bull Case for Gold and Silver In a rare move from a mainstream financial institution, Bank of America’s Head of Metals Research, Michael Widmer, has projected that gold will average $4,538 per ounce by 2026, and could potentially push to $5,000—or higher—with just a modest uptick in investment demand. And for silver? The potential price range is downright shocking: between $135 and $309 per ounce, based on historical gold-to-silver ratios. That’s not a typo. That’s a 5x–10x move from today’s prices. Falling Supply and Rising Costs Set the Stage Widmer points to a 2% drop in North American gold production and a 3% rise in all-in sustaining costs (AISC), now pushing $1,600 per…
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