Bank of America analysts predict gold prices could rise to $3000 within the next 12-18 months due to supply-demand dynamics, including mine production, jewelry and investment demand, geopolitical tensions, interest rate cuts, and central bank purchases. The report highlights the importance of non-commercial demand, such as US Fed interest rates and central bank gold purchases, in driving this upward trend. With global central banks showing increased appetite for gold, it suggests a shift in investment diversification, potentially boosting gold demand.