Bloomberg writes that the Bank of America (NYSE: BAC) has improved its 18-month gold price forecast. Bank analysts expect the price of the precious metal to reach $3000 in a year and a half. This year the average price of gold will be $ 1,695 per ounce, and next year it will rise to $2063, analysts say. The current record was slightly over $1921 and was set in September 2011. On Tuesday, the spot price of gold was on average $1678 per ounce and showed an 11% increase since the beginning of the year.

GOLD/USD, 30 min

Pivot: 1712.34