Article Synopsis
Citi analysts predict gold prices could reach $3,000 per ounce due to potential financial expansion. A weakening US labor market and disinflation support a dovish pivot by the Federal Reserve, which is bullish for precious metals. Historical data shows significant gains in gold and silver prices following Fed rate cuts.
Citi expects gold to hit $2,800-$3,000 per ounce and silver $38-$40 per ounce by mid to late 2025. Increased inflows into bullion ETFs and steady Comex gold positions suggest further growth. The bank highlights a potential rise in gold prices due to a higher price and volatility environment towards the end of the year.
