Gold and Commodities

Citi Raises Gold Price Target to $3,200 Amid Strong Demand and Fed Policy Signals

Gold’s rally may extend if central bank buying and ETF inflows remain strong, analysts predict.
Citi Raises Gold Price Target to $3,200 Amid Strong Demand and Fed Policy Signals
A gold dealer poses with three 1kg gold bullion bars in Birmingham, England, on Dec. 13, 2023. Christopher Furlong/Getty Images
Tom Ozimek
Tom Ozimek
Reporter
|Updated:
0:00

Citi Research has raised its gold price target for the next three months to $3,200 per ounce from $3,000, citing strong institutional demand coupled with increased exchange-traded fund (ETF) inflows.

“In our bull case, we see gold prices reaching $3,500 per ounce by year-end, underpinned by much higher hedging/investment demand on fears of U.S. hard landing/stagflation,” City analysts said in a March 20 note.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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