Gold May Face Continued Short-Term Pressure, Citi Says

Deep News10:30

Citi anticipates that gold will remain under pressure in the near term, particularly amid Middle East uncertainties and in scenarios involving "rising oil prices and a new round of stock market corrections." The bank reaffirmed its target price of $4,300 per ounce for the next zero to three months. However, Citi expressed greater optimism regarding the medium-term outlook. The bank stated, "Although gold often declines alongside risk assets during the early stages of a significant correction, we expect it will ultimately distinguish itself as a safe-haven asset, supported by heightened geopolitical uncertainty and increasing stagflation risks." Citi maintained its target price of $5,000 per ounce for the six to twelve month period.

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