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Citigroup Cuts 3-Month Gold Price Target to $4,000 from $4,300

GateNews
Metals
According to Citigroup, the banking giant cut its near-term gold price target to $4,000 per ounce from $4,300 in a research note published Monday. The bank cited improving macro conditions, a stronger dollar bias, stabilizing real yields, and moderating physical demand from central banks and ETF inflows as key reasons for the downgrade. Citi noted that near-term upside is limited absent a fresh shock, though gold prices could exceed $4,000 over the summer if the economy weakens sharply or inflation reignites. The bank's longer-term 6-12 month target remains at $4,500 per ounce.
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