Investment bank Citi has raised its 3-month gold price forecast to a range of $3,300–$3,500, citing growing uncertainty in the U.S. economy, rising political risk, and increasing investor demand for tangible assets.
However, the bank also cautioned that if global growth improves and central banks pull back on easing, gold could face headwinds by late 2025 — possibly dipping below $3,000.
This dual forecast reflects the push-pull tension in today’s market: inflation remains high, the Fed is under pressure to cut rates, and geopolitical volatility is pushing investors toward safety. But if any of those factors reverse — particularly if the dollar strengthens or real yields rise — gold’s momentum could slow.
Investors should be aware of both sides of the trade. While short-term upside remains compelling, it’s important to monitor the macro environment closely and adjust exposure accordingly.
