Citigroup: Gold Is Close to See a Record

Citigroup: Gold Is Close to See a Record

Citigroup Inc. thinks that gold in dollars will set a record for the next 6 to 9 months. The bank expects gold to exceed $ 2,000 per ounce with a probability of 30 percent over the next 3-5 months. Within the scope of the third quarter commodity outlook report of Citi analysts including Ed Morse, "Loose monetary policy, low real interest rates, record ETF entries and the increase in purchases in gold assets are among the factors that support the increase.". Citi analysts report that nominal gold prices have already reached the record in every other G - 10 and major advancing market currency this year, "We think it is a matter of time for gold to try new records in dollars." The statement said. In the report, which stated that the risks could be a deflation shock that could continue or a big hawk return from the Fed, analysts pointed out that this is only a very small possibility in 2020. The gold traded on the spot market traded at $ 1.810 an ounce at 9:45 am. The highest level of all periods was $ 1,921.17, observed in 2011.