Aug 04, 202519038 Views
Aug 04, 2025
Citigroup has raised its gold price forecast for the next three months from $3,300 per ounce to $3,500, with the expected trading range raised from $3,100-$3,500 to $3,300-$3,600, as it believes that recent US economic growth and inflation prospects have deteriorated. 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, will drive gold prices moderately higher to reach historical highs." Citigroup also emphasized that the weakening US employment data in the second quarter of 2025 has increased concerns about the credibility of the Federal Reserve and US statistical data institutions, as well as the rising geopolitical risks related to the Russia-Ukraine conflict. Citigroup estimates that total gold demand has increased by more than one-third since mid-2022. (FX678)
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