Robert Besser
23 Mar 2025, 14:58 GMT+10
NEW YORK CITY, New York: Gold's record-breaking rally is expected to continue, with Citi Research increasing its three-month price target to $3,200 per ounce, up from its previous forecast of $3,000.
The revision reflects strong demand from central banks and rising interest in gold-backed exchange-traded funds (ETFs), the firm said in a note this week.
Analysts at Citi also outlined a bullish scenario in which gold could climb even higher.
"In our bull case, we see gold prices reaching $3,500 per ounce by year-end, underpinned by much higher hedging/investment demand on fears of U.S. hard landing/stagflation," the note stated.
Get a daily dose of Beijing Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Beijing Bulletin.
More InformationWASHINGTON, D.C.: Commerce Secretary Howard Lutnick said the Trump administration is asking companies and foreign governments to help...
Pete Hegseth is conducting a poll among the public about renaming the agency he heads as the Department of War US Defense Secretary...
Washington [US], March 22 (ANI): Apple has officially renewed its critically acclaimed thriller series 'Severance' for a third season,...
Washington DC [US], March 22 (ANI): US President Donald Trump announced the Pentagon's decision to proceed with the development of...
Washington DC [US], March 21 (ANI): Tech billionaire Elon Musk slammed the New York Times on Friday in a post on X, hours after US...
New York [US], March 21 (ANI): India's Permanent Representative to the United Nations, Ambassador Parvathaneni Harish, has stressed...
NEW YORK CITY, New York: Gold's record-breaking rally is expected to continue, with Citi Research increasing its three-month price...
BOSTON, Massachusetts: A routine safety mechanism at data centers nearly triggered a regional power crisis last summer, highlighting...
PARIS, France: Air France is making a bold bet on luxury travel with the launch of an upgraded first-class suite, aiming to attract...
WASHINGTON, D.C.: U.S. home construction and manufacturing activity surged in February, but rising costs from tariffs and economic...
NEW YORK, New York - Uncertainty continues to plague investors on Wall Street with Friday's trading being volatile and weak. The major...
WASHINGTON, D.C.: U.S. factories ramped up production in February, with a sharp rebound in motor vehicle output helping to drive manufacturing...