Last updated: 2026-01-12 02:31:31 ET
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However, for the entire year, it expects gold to trade within a wide range that could go as low as $3,950 per ounce.
Risks to the bull market, could gold hit $5,000 an ounce?
Silver’s market capitalization has overtaken that of America’s most valuable company, Nvidia, as one ounce of gold buys 80 barrels of oil.
The same sentiment is being echoed by those at Bank of America, which is projecting gold to average $4,538 per ounce through the year.
Spot gold hit a one-week high of $4,455.42 per ounce, about $100 shy of its record high.
