Bank of America Strategist: Buy Gold Now Despite Record Prices

Despite record high prices and investors selling off their gold holdings, Bank of America strategist Michael Hartnett recommends buying gold. He believes that potential interest rate cuts by the Federal Reserve could lead to inflation, which would benefit gold. Hartnett highlights that central banks, particularly China`s, have been significant buyers of gold, making it the second largest reserve asset. He suggests considering gold ETFs like IAUM and GLDM.