Wall Street unanimously bullish on gold! Citigroup predicts it will soon reach $3000.

Amid escalating global geopolitical uncertainties, the gold market has seen new development opportunities. Due to the heightened geopolitical tensions and the US President Trump's aggressive trade policies, major global investment banks have generally raised their expectations for gold prices, believing that the gold price for the whole year 2025 will remain at a high level, and may even break through the $3000 mark. Citibank expects the average price of gold in 2025 to increase from $2800 per ounce to $2900, and has raised its short-term (0-3 months) gold price target from $2800 per ounce to $3000 per ounce, while keeping the 6-12 month forecast unchanged. The bank believes that trade wars and geopolitical tensions will reinforce the trend of reserve diversification and de-dollarization, thereby supporting the demand for gold from official departments in emerging markets. The bank stated: "We expect the price of gold to continue to rise as an important tool for hedging various risks. These risks include escalating trade wars, sustained high interest rates dragging on economic growth, continued weakness in the US labor market, depreciation risks of non-US currencies, and the potential risk of a downturn in the US stock market." Furthermore, data from the World Gold Council shows that total global gold demand reached a record 4974.5 metric tons in 2024, with this growth primarily benefiting from increased investment in the fourth quarter and rising central bank purchases. In a report on December 5th, the Macquarie Group pointed out that while economic growth in the first half of 2025 is expected to remain strong, future prospects will depend on the strength of US fiscal, trade, and immigration policies, as well as the extent of tariff retaliation. On February 5, 2025, the spot gold price broke through $2880 per ounce, hitting a new all-time high. This five consecutive trading days of increases were mainly driven by heightened trade tensions between major economies, concerns about economic growth, and uncertainties about the Fed's interest rate path. Experts predict that the price of gold in 2025 is likely to surpass the $3000 mark, with this trend being strongly supported by continued gold purchases by central banks globally. Below is the latest forecast list from brokerage firms for gold prices in 2025 and 2026 (calculated in US dollars per ounce):