Gold $3,000? This pattern suggests a 70% surge from here makes sense

Bank of America on Wednesday raised its price target on gold from $2,000 an ounce all the way up to $3,000 — a 50% increase. What’s more, that predicted level is more than 50% above a nine-year-old record of $1,921, so yes, B. of A. analysts are bullish on gold, to put it mildly. Apparently there’s a technical case to be made, as well.