Citigroup: Raises Gold Price Target, Bull Market Expected to Continue

On February 6th, Jinsan Data reported that Citigroup analyst Kenny Hu said that due to tariff risks and strong demand from Central Banks, the recent increase in the price of gold may be higher than previously expected. The price of gold has already pumped 10% this year, breaking through Citigroup's three-month target of $2,800 per ounce. Citigroup has raised this target to $3,000 per ounce, while maintaining its target of $3,000 per ounce for 6-12 months. With the escalation of trade wars and geopolitical tensions, the trend of reserve diversification and de-dollarization, as well as the demand from emerging market Central Banks, the Bull Market for gold seems to continue.