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. The bank also expanded its expected trading range to $3,300 to $3,600 per ounce, up from $3,100 to $3,500. This adjustment reflects concerns over weakening U.S. economic growth, rising inflation risks, and ongoing tariff tensions under President Trump's administration. The recent weak U.S. jobs data has contributed to increased expectations of interest rate cuts, which, alongside a weaker dollar, have supported higher gold prices. Following a 2.2% surge—the largest in two months—gold prices stabilized near $3,360 per ounce, with some profit-taking observed as yields rose. Despite this, gold settled 0.80% higher at $3,374.40. The revised forecast marks a turnaround from earlier bearish predictions by Citigroup, which had anticipated a decline below $3,000 per ounce in the coming quarters. The bank's outlook suggests that gold will continue to benefit from economic uncertainties and inflationary pressures through the second half of 2025.