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Citigroup: Negative US Economic Outlook to Drive Moderate Increase in Gold Prices
Summary: According to a report from FXStreet, Citigroup has raised its gold price forecast for the next three months from $3300 per ounce to $3500, with the expected trading range adjusted from $3100-3500 to $3300-3600, citing deteriorating US economic growth and inflation prospects. The bank stated, 'US economic growth and inflation concerns related to tariffs will ...
According to a report from FXStreet, Citigroup has raised its gold price forecast for the next three months from $3300 per ounce to $3500, with the expected trading range adjusted from $3100-3500 to $3300-3600, citing deteriorating US economic growth and inflation prospects. The bank stated, 'US economic growth and inflation concerns related to tariffs will continue to worsen in the second half of 2025, coupled with a weaker US dollar, driving a moderate increase in gold prices to reach historic highs.' Citigroup also emphasized weakening US employment data in the second quarter of 2025, increasing concerns about the credibility of the Federal Reserve and US statistical data institutions, as well as rising geopolitical risks related to the Russia-Ukraine conflict. Citigroup estimates that total gold demand has increased by over one-third since mid-2022.
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Link: Citigroup: Negative US Economic Outlook to Drive Moderate Increase in Gold Prices [Copy]
