Bank of America is optimistic about gold. Their latest logic is: &#34;Our supply and demand model shows that if investment demand increases by just 1%, the average price of gold this year will reach $3,000 per ounce. To reach $3,500 per ounce, investment demand needs to increase by 10%. This number is large, but not impossible. The measure allowing insurance companies in China to invest in gold could create an additional demand of 300 tons, equivalent to 6.5% of the global annual market.&#34;
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Bank of America is optimistic about gold. Their latest logic is: "Our supply and demand model shows that if investment demand increases by just 1%, the average price of gold this year will reach $3,000 per ounce. To reach $3,500 per ounce, investment demand needs to increase by 10%. This number is large, but not impossible. The measure allowing insurance companies in China to invest in gold could create an additional demand of 300 tons, equivalent to 6.5% of the global annual market."