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Citibank raises gold price forecast, expecting it to reach a record high of $3,500 by 2025.
According to 【Coin World】, Citigroup has revised its gold price forecast for the next three months from $3,300 per ounce to $3,500 per ounce, expecting the trading range to be raised from $3,100-$3,500 to $3,300-$3,600, as it believes that the recent outlook for U.S. economic growth and inflation has deteriorated. The bank stated: "U.S. economic growth and inflation concerns related to tariffs will continue to intensify in the second half of 2025, coupled with a weaker dollar, which will moderately drive gold prices higher, reaching a new historical high." Citigroup also emphasized that weak U.S. employment data in the second quarter of 2025 will raise concerns about the credibility of the Fed and U.S. statistics, as well as the rising geopolitical risks associated with the Russia-Ukraine conflict. Citigroup estimates that total demand for gold has increased by more than one-third since mid-2022.