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<Research>Citi: Gold Prices Higher Than Expected, May Continue to Consolidate
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Gold prices hit record highs in late April and broke Citi Research's target price of US$3,500 per ounce, according to a research report published by Citi Research. Gold prices may continue to consolidate amidst progress in the tariff talks as tariff concerns drove a sharp incline in gold prices. The broker believed that the record global wealth allocation to gold, the expansion of the share of gold in central bank reserves, the decline in demand for jewelry and the potential rise in scrap supply could act as resistance to higher gold prices. AAStocks Financial News |
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