In a note issued on April 21 and titled “The Fed can’t print Gold”, Bank of America raised significantly its 18-month gold price target to $3,000 per ounce, which is more than 50% above the current price (around $1,680). “As economic output contracts sharply, fiscal outlays surge, and central bank balance sheets double, fiat currencies could come under pressure and investors aim for gold,” explained the financial institution’s analysts, thus recalling the safe-haven nature often associated with the yellow metal. A development which, if it were to be realized, would certainly be very profitable for the main African gold producers (Ghana, South Africa, Mali, Burkina Faso…).