Gold price approaches record high amidst uncertain global sentiment and recession fears.

Bank of America analysts predict that gold prices could hit record highs, with an initial price target above $2,100 an ounce, due to strong fundamental prospects and bullish technical outlook. The lead author of the report, Paul Ciana, believes that gold's rally to its all-time high of $2,078 could signal the start of a two-year bull run, which could push prices above $2,500 an ounce. However, there is a risk that the market could be seen as overbought as it makes a run to $2,078. Meanwhile, silver also has room for prices to move higher, but investors should be cautious of a correction at current levels.