Gold just boomed past $4,000 per ounce for the first time ever. After raising red flags around gold's rally, Bank of America now sees the metal hitting $5,000.
The brief pause in the market rally didn't last long. Wall Street resumed its climb toward fresh records on Wednesday, powered by another relentless surge in technology stocks — while in commodities, gold continues to defy the laws of gravity.
As gold prices touch the $4,000 mark, economist Peter Schiff said that investor behavior is not in alignment with this trend when it comes to gold mining stocks.
The market value of the United States’ vast gold reserves topped $1 trillion mark for the first time on Monday. This comes as the gold price is experiencing a powerful rally, nearing $3,840 per ounce.
While 2025 thus far has been all about headlines regarding AI stocks and semiconductor ETFs, one of the year’s most sensational performers comes from a category few would anticipate: gold miners.
Driven by inflation, gold prices have already gone on a massive run. However, several banks are boosting their gold price targets, predicting more upside ahead.
