Reported about 1 month ago
Citi Research has increased its three-month gold price outlook to $2,800 per ounce from $2,700, attributing this to potential U.S. labor market declines, possible Federal Reserve interest rate cuts, and increased physical and ETF buying. The bank's 6 to 12-month forecast also sees gold prices reaching $3,000. Despite weakening demand from China and rising U.S. interest rates, gold has performed exceptionally well, with prices surging due to uncertainties surrounding the U.S. presidential election and tensions in the Middle East.
Source: YAHOO