(Kitco News) – The current correction in precious metals prices is the result of lowered near-term geopolitical instability, but gold and silver will both post further gains in the second half of 2025, according to Francisco Blanch, head of global commodity and derivatives research at Bank of America Securities.
“We’ve been calling for $3,500 gold for the first half of this year,” Blanch said in an interview with CNBC. “We got there, and we feel the market’s going through a correction right now that could last a few months. We’re still bullish longer term. We think longer term, maybe into the second half or into 2026, we’ll breach $4,000 per ounce, but we’re going through a correction because some of the extreme uncertainty that we’ve witnessed in recent months seems to be fading.”
“We’ve gotten very close to $3,500 a couple of times, but to breach that level and keep moving up, we need some of this geopolitical turmoil, some of this policy uncertainty to creep back up again,” he said. “We expect it to happen into year-end, into ’26, but for now we think it’s unlikely we will move up in a straight line from here.”
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