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Gold Price Forecast: XAU/USD to average sub-$1600 in 2022 – Citibank

Analysts at Citigroup offer their price forecasts for gold and oil, with a bearish outlook on the bright metal for the next year.

Key quotes

“We are bearish spot and forward gold markets, forecasting a sub-$1,600/oz average in 2022.”

“See brent crude oil prices averaging $69/bbl in 2021, $67/bbl in 2022.”

“WTI crude oil prices averaging $66/bbl in 2021, $64/bbl in 2022.”

Related reads

Oil rally will continue, with year-end Brent forecast of $90 – Goldman Sachs

Gold, Chart of the Week: XAU/USD bearish bias forecast below $1,760

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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