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Gold prices may fall further to $3,600 but offer buying chances, says Bank of America.

Technical Signals
16 Jul 2026
Kitco
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Neutral
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Bank of America warns that gold prices, currently struggling near $4,000 an ounce, could continue to decline and test support around $3,600 before stabilizing. The bank's technical analyst expects the correction to last through August and September, noting a recent 'death cross' signal that historically precedes further price drops. Despite this, the bank sees lower prices as buying opportunities, especially between $3,700 and $3,600, and even more attractive around $3,450 to $3,250. Additionally, Bank of America highlights strong profitability in the gold mining sector, with miners showing high free cash flow and earnings yields, making them a valuable investment even amid price volatility.

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