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 Chicago Chronicle 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 Chicago Chronicle.
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...
WASHINGTON, D.C.: Industry leaders are pushing the Trump administration to clear regulatory obstacles slowing the rollout of self-driving...
Elon Musk's Teslas' are in the running to take over the transport of Israel's government officials. Musk's company, Tesla Inc., has...
WASHINGTON, D.C.: President Donald Trump has reversed a Biden-era executive order requiring businesses with federal contracts to pay...
CHICAGO, Illinois: The Chicago River turned bright green again as the city kicked off its annual St. Patrick's Day celebrations. ...
New Delhi [India], March 22 (ANI): Air India on Saturday announced that its flights to and from London Heathrow (LHR) are back on schedule...
(Photo credit: Rick Scuteri-Imagn Images) Jacob Wilson collected three of the Athletics' 16 hits as the A's routed a Kansas City...