“Exciting Times” for Gold Investors as Feneck Backs BofA’s $5,000 Forecast

Video Description

With gold and silver at all-time highs, and copper hovering around US$5, John Feneck of The Feneck Commodities Report tells Kitco Mining’s Digging Deep that gold has finally broken out after months of consolidation. “Gold obviously was kind of a sideways pattern for a good portion of 2025,” he said, adding that it “then broke out of that consolidation and just skyrocketed past $3600, and just went ballistic here.” ​​Feneck also highlighted the growing institutional support behind gold’s rally, pointing to Wall Street’s latest forecasts. “Goldman Sachs has now raised their target to 4,900 gold for next year. Bank of America came out and said, ‘We’re not at $4,400 anymore. We’re at $5,000,” concluding that, “having all of this new attention on gold is really, really bullish.” Silver’s rally is equally striking, with $50 looking like just the beginning, with Feneck speculating that inflation-adjusted highs near US$66 to US$70 could be next. He also pointed to record US$17 billion in global gold ETF inflows and noted that his firm remains heavily exposed to miners. “We’re much overweight on the equity side because you’re seeing outsized numbers on a daily or weekly basis in some of these names.” On U.S. resource policy, he said progress is welcome but insufficient. “There has to be a lot more money thrown at this. We’re just so far behind.” Subscribe to Kitco Mining’s Digging Deep for more expert interviews and market analysis. 00:21 - Current State of Gold, Silver, and Copper Prices 00:37 - Gold Market Analysis and Predictions 02:02 - Silver Market Insights 03:15 - Copper Market Trends 04:54 - Impact of Central Bank Gold Buying 06:55 - Mergers and Acquisitions in the Mining Sector 07:47 - Challenges and Opportunities in African Mining 09:57 - North American Mining Deals 11:33 - Mid-Tier Gold Companies and Financing 15:01 - Copper Market Developments 24:35 - Critical Minerals and Geopolitical Tensions 34:40 - Upcoming Mining Conferences __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram - https://www.instagram.com/kitcomining LinkedIn - https://www.linkedin.com/company/kitco-mining Facebook - https://www.facebook.com/KitcoMining Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.