Monday, gold futures briefly topped $2,000 per ounce — less than $100 from its 2020 all-time high. BofA Securities' Paul Ciana on Monday said that "a dip from $2,000 looks like a buying opportunity." Gold subsequently dipped below $1,950 before settling at $1,955.60 per ounce Wednesday.
Ciana has been bullish on gold since early February — just before gold broke to the upside after months of consolidation. He's reiterating his bullish gold trend view with a 2022 price target of $2,175, which is "modestly" higher than the current record high of $2,089.