Citi Sees Gold Soaring to $3,000 on Tensions Triggered by Trump
- Bank expects price target to be reached within three months
- Global instability will encourage central banks to buy gold
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Citigroup Inc. expects gold prices to hit a record $3,000 an ounce within three months, with geopolitical tensions and trade wars stoked by US President Donald Trump boosting demand for safe-haven assets.
Trump jolted markets with the prospect of tariffs that could slow economic growth, reignite inflation and disrupt global commerce. Investors will continue to seek bullion’s security and central banks are likely to keep building out their reserves, analysts including Kenny Hu wrote in a report.