04.08.2026 12:00
While momentum continues in precious metals ahead of critical employment data to be released in the US, giant investment bank Citi shared a notable gold analysis. Citi predicted that gold per ounce will reach $4,500 in the final quarter of the year and $5,000 in the first half of next year.
A critical week in the gold market. While global markets focus on the US employment data to be released on Friday, August 8, the US-based giant investment bank Citi has predicted that gold could reach the $5,000 level next year.
GAINS DEPEND ON LABOR DATA
Global investors are awaiting the critical employment data that will provide clues about the US Federal Reserve's (Fed) interest rate policy. If the data, to be released on Friday, August 8 at 15:30 Turkey time, falls below expectations, it is stated that pressure could build on the dollar index, which could accelerate the rise in gold prices. Amid geopolitical tensions and uncertainties on the US-Iran line, gold was trading at $4,059.81 per ounce, up 0.2% in the latest transactions.
INTEREST RATE MESSAGE FROM THE FED AND INFLATION CONCERNS
While uncertainty caused by inflation and geopolitical risks persists in the markets, hawkish statements from Fed officials are also being monitored. New York Fed President John Williams emphasized that they would not hesitate to raise interest rates if inflation does not decline to targeted levels.
NEW RECORD FORECAST FROM CITI: $5,000
Assessments from financial giants regarding the medium and long-term course of gold continue to arrive. In its latest analysis, the US-based international investment bank Citi included the following forecasts:
- Short-Term Expectation: It was assessed that prices could maintain a horizontal course in the short term or experience limited pullbacks.
- Year-End Target: Gold is expected to climb to the $4,500 level in the final quarter of the year.
- Next Year Expectation: It was predicted that with the continuation of the upward trend, gold could reach a record level of $5,000 in the first half of next year.
While the market activity continues, other precious metals such as silver, platinum, and palladium also ended the day with gains.