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 Baton Rouge Post 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 Baton Rouge Post.
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.: The Trump administration is considering strict new travel restrictions for citizens of dozens of countries, according...
WASHINGTON, D.C.: The U.S. government has placed more than 1,300 Voice of America (VOA) employees on leave and slashed funding for...
Pete Hegseth is conducting a poll among the public about renaming the agency he heads as the Department of War US Defense Secretary...
The former Ukrainian territories want to stay with Russia, Steve Witkoff has said The status of the former Ukrainian territories...
Islamabad [Pakistan], March 22 (ANI): Former cricketer Basit Ali has provided technical input to Pakistan's premier player, Babar Azam....
Belgrade will not take part in the restrictions against Moscow, Deputy Prime Minister Aleksandar Vulin has said ...