(Reuters) -Bank of America on Monday raised its price forecasts for precious metals, lifting its 2026 outlook for gold to $5,000 an ounce, with an average of $4,400, and for silver to $65 an ounce, averaging $56.25. The bank sees a risk for a near-term correction, but still expects further upside for both metals next year, it said in a note. "The White House's unorthodox policy framework should remain supportive for gold given fiscal deficits, rising debt, intentions to reduce the current account deficit/capital inflows, along with a push to cut rates with inflation around 3%," the bank added. Bank of America is the first major bank to raise its gold price forecast to $5,000/oz for 2026. Spot gold breached the $4,000 per ounce mark last week and is currently trading at $4,073.69 as of 1010

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