Gold May Climb to $2,500 in the Next Year, Citigroup Says
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Gold may extend its record to as high as $2,500 an ounce in the next year if sovereign debt concerns escalate, Citigroup Inc. said.
The metal climbed to a record $1,921.15 an ounce on Sept. 6 as concerns about debt crises and slowing economic growth boosted demand for a protection of wealth. The metal could “briefly spike” to between $2,000 and $2,500 in the next 12 months and will likely stay above an average $1,200 a year in the long-term, Citigroup predicts.