Bank of America on gold: "We still have got a target of $2,000" - Wealth Management

"We pushed that back by a few quarters," analyst tells CNBC

"We still have got a gold target of $2,000 per ounce, but we pushed that back by a few quarters," BofA Merrill Lynch Global Research strategist Michael Widmer tells CNBC in a June 13 interview.

"The reason why we did that we see not necessarily the buying interest from investors at the moment. ... What we're saying in that note, though, is if you're looking out over the next three or four years, emerging markets are getting more affluent over that time, and as they get more affluent, they can increase jewelry demand and that will increasingly drive the market. ... It is a break, a pause in the gold market, and over the medium term I don't think the gold market has been broken yet."

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