Citi: Gold Could Reach $3,500 in the Near Term as Trade War Fears Drive Demand
According to TechFlow, Citigroup has raised its 0–3 month price target for gold to $3,500 per ounce, citing renewed tariff tensions and geopolitical risk as key drivers for safe-haven demand.
Citi analysts now expect gold to consolidate in a range between $3,100 and $3,500 per ounce, reflecting heightened investor appetite for hard assets amid growing macroeconomic uncertainty.
Key Drivers Behind Citi's Bullish Gold Forecast
Citigroup’s revised outlook follows a spike in global trade tensions, particularly surrounding the United States’ renewed tariff threats. These developments have led investors to reduce risk exposure in equities and rotate into commodities and precious metals, traditionally viewed as inflation hedges and volatility shelters.
“Tariff escalation has reintroduced significant tail risk to global markets, prompting stronger flows into gold,” Citi’s report noted.