The bank expects the gold market deficit to reach its maximum point during the third quarter and the market should weaken thereafter, driven by lower investment demand.
Citi Bank said Monday that he hopes Gold consolidates around US $ 3100 au $ 3500 on an ounce in the third quarter of the year, since Prices are moderated due to geopolitical de -escalated in the Middle East and an improvement in world growth perspectives.
“We expect a continuous consolidation of prices (…) and we highlight our opinion that we may have already seen the maximums at US $ 3500/ounce at the end of April, since The gold market deficit will be reaching its maximum point soon, if it has not already done so“Citi said in the note.
The entity added that Gold prices fell more than US $ 100 per ounce since the bank reduced its price objective from 0 to 3 months of US $ 3500 Au $ S3300 On an ounce in his perspective of the third quarter of mid -June, with the metal quoting now just below that revised objective.
gold.
Irene Zaera.
Gold: Citi expectations
The bank expects The gold market deficit reaches its maximum point during the third quarter And the market should weaken thereafter, driven by lower investment demand.
Citi hopes that Gold prices fall again to US $2500 au $ 2700 the ounce in the second half of 2026 And he said that “he strongly recommends gold producers who ensure the fall in prices from current levels.”
Source: Ambito
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