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 Brazil Sun 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 Brazil Sun.
More Information(250322) -- SHANGHAI, March 22, 2025 (Xinhua) -- Aston Martin's driver Fernando Alonso of Spain competes during the qualifying of the...
Washington DC [US], March 22 (ANI): US Secretary of State Marco Rubio shared on Saturday the decision by a federal jury which convicted...
Exotic fruits are seen at the window of world tropical fruits in Qionghai City, south China's Hainan Province, March 5, 2025. (Xinhua/Li...
(250322) -- NANJING, March 22, 2025 (Xinhua) -- Grant Holloway (L) of the United States competes during the men's 60m hurdles heats...
Washington DC [US], March 22 (ANI): The US Department of Homeland Security (DHS) is terminating the parole programs for 'inadmissible...
New Delhi [India], March 21 (ANI): India and China are making significant strides in their bilateral relations, with constructive engagements...
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...