Citi Predicts Gold Price to Drop Below $3,000/Oz Due to Decreased Demand and Fed Rate Cuts
Citigroup Inc. expects the price of gold to drop below $3,000 an ounce in the coming quarters due to decreased demand and Federal Reserve rate cuts. Analysts, including Max Layton, predict gold to reach around $2,500-$2,700 per ounce by the second half of 2026. Factors such as weakening investment demand, improving global economic growth prospects, and Fed rate cuts may contribute to the decline in gold prices. The forecast suggests gold prices consolidating above $3,000 per ounce in the next quarter before declining.