Citigroup Maintains Cautious Stance on Gold, Sets 3-Month Price Target at $4,300 per Ounce

GateNews
XAU0.87%
According to Citigroup on May 21, the bank maintains a cautious outlook on gold in the near term, citing ongoing Strait of Hormuz closures and elevated energy prices that have reduced investor buying interest. Concerns over a potential risk-off sentiment triggering selling pressure on gold contributed to the caution. Citigroup set a gold price target of $4,300 per ounce for the next three months, noting that prices could fall significantly below this level should a major risk-off event occur.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments