Citigroup analysts have lifted their three-month price target for gold to $3,500 an ounce from $3,300 and widened the expected trading range to $3,300–$3,600. The bank said softer U.S. economic data, persistent tariff-driven inflation pressures and a weaker dollar are likely to keep safe-haven demand elevated through the second half of 2025. Citi pointed to last week’s weaker-than-expected U.S. payrolls report, rising market odds of a Federal Reserve rate cut in September and renewed geopolitical risks for supporting bullion prices. Spot gold traded at about $3,356.88 an ounce early Monday, already within Citi’s revised range and near an all-time high.