In a strong forecast, CitiBank has raised its gold price target for the next three months to an astonishing $3,200 per ounce. This upward revision represents a significant boost in the bank’s confidence in the precious metal’s market performance.
The economic and geopolitical uncertainties have traditionally boosted the allure of gold as a safe haven asset. Amid the ongoing developments on global fronts, the gold market seems poised for a bullish trend in the short-term, according to Citi’s analysis.
The accretion in gold price is expected to be influenced by an array of factors including inflation expectations, deficit spending, and monetary policies. Market participants and precious metal enthusiasts are on tenterhooks to see how the gold market responds to this optimistic prophecy.
This price hike prediction has indeed invigorated the gold trading industry, rekindling an intense focus on the gold market. Read More
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