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<Research>Citi Expects Gold Prices to Consolidate Around US$3,100-US$3,500 in 3Q
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In its 3Q25 outlook published in mid-June, Citi Research lowered its gold price target from US$3,500 to US$3,300 per ounce, according to a research report issued by the broker. Despite a weaker USD and lower US interest rates, gold prices in the second half of June modestly declined amid easing Middle East tensions and improved global growth prospects. The broker currently forecasted gold prices to consolidate in the range of US$3,100 to US$3,500 per ounce in 3Q25, and emphasized that gold prices may have peaked at US$3,500 per ounce at the end of April. Moreover, the approval of the 'One Big Beautiful Bill Act' (OBBBA) and the upcoming trade agreements with major trading partners should help alleviate market concerns about US economic growth and exert pressure on gold demand. AASTOCKS Financial News Website: www.aastocks.com |
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