06.02.2025 13:00
One of the world's leading financial institutions, Citi Bank, announced that it has raised its gold forecast. The bank increased its three-month price target from $2,800 per ounce to $3,000 per ounce, while also raising its average forecast for 2025 from $2,800 per ounce to $2,900 per ounce.
With the impact of global economic wars, a striking prediction has come from banking giant Citi regarding the rapidly rising gold prices. Citi Research has raised its short-term and 2025 average gold price forecasts, citing trade wars under the administration of U.S. President Donald Trump, geopolitical risks, and strong central bank purchases as reasons. The bank increased its three-month price target from $2,800 per ounce to $3,000, while also raising its 2025 average forecast from $2,800 to $2,900 per ounce.
SPOT GOLD HITS NEW RECORD
U.S. banking giant Citi stated, "It seems that the gold bull market will continue under Trump 2.0, as trade wars and geopolitical tensions strengthen the trend of reserve diversification or dollarization, and support official sector gold demand in emerging markets."
Spot gold reached a record level of $2,882.16 on Wednesday, influenced by uncertainty regarding Trump's tariff policies. Citi added, "Despite the record pace of global gold reserve purchases in recent years, we expect official sector gold demand to remain strong at over 1,000 tons per year between 2025 and 2026."