Citi on gold's multi-year bull cycle - higher prices ahead (but not yet)

Author: Eamonn Sheridan | Category: News

Citi forecasts for the price of gold:

  • gold prices are likely to be non-linear
  • and prices may consolidate around the US$1,600/oz area in 3Q, before advancing again
  • forecasts are for 2020 prices to average between US$1,625 - $1,775/oz, 
  • 2021's prices may average US$1,925/oz
More:
  • Gold markets appear to be in the midst of a multi-year bull cycle
  • are likely to trade in a higher range.
  • lower for longer interest rates with QE in full swing, potential lingering macro uncertainty (COVID-19 impacts and new wave of US-China tensions) and strong investor flows could continue to support gold prices and offset weakness in Asian jewellery demand. 

Citi forecasts for the price of gold:


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