Gold: Set to hit a record high in the next 6 to 9 months – Citibank
|Analysts at Citigroup cite four key reasons behind gold’s next leg higher to a record high in the coming months.
Key quotes
“The price of gold will hit a record high in the next 6 to 9 months.”
“Assess a 30% probability it would go above $2,000 in the next 3-5 months.”
Citing “loose monetary policy, low real yields, record ETF inflows and increased gold asset allocation.”
"Nominal gold prices have already posted fresh records in every other G-10 and major EM currency this year, so we believe it is only a matter of time for fresh gold-USD highs."
See gold averaging $1,750 this year, 1,965 next year.
Sustained deflation shock and major hawkish turn from the Fed could limit the upside.
This is, however, highly unlikely in 2020.”
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