According to ChainCatcher, Citibank has raised its gold price forecast from $3,300 to $3,500 per ounce in the next three months, and adjusted its expected trading range from $3,100-3,500 to $3,300-3,600, as it believes the recent US economic growth and inflation outlook have deteriorated.
The bank stated: "US economic growth and tariff-related inflation concerns will continue to intensify in the second half of 2025, and combined with a weakening US dollar, will moderately push gold prices to a new historical high. Citibank also emphasized that weak US employment data in the second quarter of 2025, increasing concerns about the credibility of the Federal Reserve and US statistical agencies, and rising geopolitical risks related to the Russia-Ukraine conflict. Citibank estimates that total gold demand has grown by more than one-third since mid-2022. (Jin Shi)
