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 The UK News 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 The UK News.
More InformationNEW 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...
BEIJING, March 22 (Xinhua) -- Here are the latest Chinese sports headlines from the past week:1. Hamilton dominates Shanghai F1 Sprint...
New Delhi [India], March 22 (ANI): The Indian Super League (ISL) league stage reached its conclusion with Mohun Bagan Super Giant retaining...
(250322) -- BUCHAREST, March 22, 2025 (Xinhua) -- Romania's Andrei Ratiu (L) vies with Bosnia and Herzegovina's Amar Dedic during the...
London [UK], March 21 (ANI): England all-rounder Sam Curran opened up on spending time with legendary Indian cricketer and Chennai...
(250321) -- DOHA, March 21, 2025 (Xinhua) -- Players of DPRK react after the 2026 FIFA World Cup Asian Qualifier match between Qatar...
(250321) -- BRASILIA, March 21, 2025 (Xinhua) -- Vinicius Junior (R) of Brazil controls the ball during the 2026 FIFA World Cup Latin...