Analysts at Citigroup cite three reasons why gold’s bull trend remains intact while traders target $2400/ oz over the next 12 months.
“Record pace of ETF investor inflows, weakening US$ and negative real yields are the primary drivers for the push higher."
“For the next 3-months, we lift gold short-term targets to ~$2,200/oz.”
“6-12m targets breaching $2,400/oz seems plausible.”
- Gold Price Analysis: Nears descending triangle resistance
- Gold Price Analysis: XAU/USD searches for clues to extend recovery moves beyond $1,950
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