Citigroup: Gold price may hit new historical highs again amidst concerns in the United States.

Citibank indicates that the price of gold may hit a historic high in the coming months. The bank has raised its recent gold price forecast from $3,300 per ounce to $3,500 per ounce. The bank predicts that the price of gold will trade between $3,300 and $3,600 per ounce in the next three months. The bank's previous forecast range was between $3,100 and $3,500 per ounce. "Recent deteriorations in the outlook for U.S. cyclical growth and inflation have occurred," Citibank said. "Higher-than-expected tariffs could lead to an increase in U.S. inflation, a continued weakening of the U.S. labor market, and increased concerns about the independence of the Federal Reserve/data." Citibank states that all of these factors indicate a growing possibility of gold prices rising once again.