Citigroup has revised its gold price forecast upward, now expecting gold to reach $3,500 per ounce over the next three months, an increase from its previous forecast of $3,300 per ounce. The bank has also expanded its expected trading range for gold to $3,300 to $3,600 per ounce, up from $3,100 to $3,500 per ounce. This adjustment reflects concerns over weakening U.S. economic growth, elevated inflation risks, and ongoing tariff tensions. Citi analysts highlight that these factors, combined with a weaker U.S. dollar, are likely to drive gold prices moderately higher in the second half of 2025. The bank's revised forecast marks a notable shift from its earlier bearish outlook in June, when it anticipated gold prices to fall below $3,000 per ounce in the coming quarters. As of early August 2025, spot gold prices were around $3,356.88 per ounce. Citi's updated projections suggest the potential for gold to reach record highs within the near term.
Gold hitting an all-time high! @Carterbworth lays out a glittery path forward for the commodity. @michael_khouw weighs in on the options activity. https://t.co/5bf5Ro7pwK
HSBC raises silver price outlook on gold strength, geopolitical risks https://t.co/BJaYRL8ZKU https://t.co/BJaYRL8ZKU
HSBC raises silver price outlook on gold strength, geopolitical risks https://t.co/xjNhColuNa via @Reuters