Citibank forecasts gold prices

According to Citibank, gold prices may reach an all-time high over the next few months.

The bank raised its forecast for the gold price in the near term to 3,500 dollars per ounce from 3,300 dollars per ounce previously.

The price of gold is expected to range between 3300 and 3600 dollars per ounce over the next three months. He had previously predicted a range of 3100-3500 dollars per ounce.

The reasons for such forecasts according to Citibank

- The outlook for near-term cyclical growth and inflation in the United States has deteriorated recently.

- Higher tariffs than we expected are likely to lead to higher inflation in the United States.

- The US labor market continues to be weak, as the jobs data released last Friday served as an unambiguous alarm bell.

- Also, concerns are growing about the independence of the Federal Reserve and the data.

All this means that the rise of gold again has become highly probable.