Sing empty and look long, Citibank expects the price of gold to rise to a record high in the short term.
Citigroup is adjusting its bearish forecast for gold, with analysts now predicting that due to the worsening US economy and the possibility of tariffs pushing up inflation, gold prices are expected to rise to record highs in the short term. Analysts such as Max Layton wrote in a report on Monday that gold prices are expected to range between $3,300 and $3,600 per ounce in the next three months, partially due to the average level of US import tariffs being higher than expected at 15%. This is in contrast to Citigroup's view in June, when the bank stated that gold prices would fall below $3,000 in the coming quarters.
Latest