Feneck Says Gold Entering Exciting Phase as Bank of America Calls for $5,000 Target

Gold and silver have hit all-time highs, and John Feneck, founder of The Feneck Commodities Report, says the breakout has only just begun. Speaking with Kitco Mining’s Digging Deep, Feneck calls gold’s move “ballistic,” after breaking out of its 2025 consolidation phase and skyrocketing past $3,600 an ounce—a move that has caught even Wall Street off guard.

Major institutions are now chasing the rally. Goldman Sachs has lifted its target to $4,900, while Bank of America just went further, calling for $5,000 gold next year. “Having all of this new attention on gold is really bullish,” Feneck said, emphasizing that the smart money is rotating back into hard assets as inflation fears and global instability rise.

Silver’s surge is equally explosive, with $50 looking like just the beginning. Feneck projects inflation-adjusted highs near $66–$70, supported by record $17 billion in gold ETF inflows and surging demand for precious metals equities. “We’re overweight on miners,” he said. “The numbers we’re seeing on the equity side are outsized—daily and weekly.”

On the policy front, Feneck welcomes U.S. efforts to secure domestic resources but warns it’s “too little, too late.” He argues the country needs far greater investment to catch up in the global resource race.

This is a must-watch interview for investors navigating the next phase of the gold and silver supercycle, with actionable insights on price targets, mining stocks, and institutional momentum.

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