Gold Seen Hitting $3,000 at Citi as Investor Inflows Juice Rally [BNN Bloomberg (Canada)]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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US:NYSE Investor Relations:
citigroup.com/citi/investor/pres.htm
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Source: BNN Bloomberg
Reserve will eventually cut interest rates, Citigroup Inc. said, adding to a roll call of Wall Street banks that have raised forecasts. Analysts led by Aakash Doshi upgraded their estimate for average prices in 2024 to $2,350 and made a “massive 40% upward revision” in their 2025 prediction to $2,875. Trading will “regularly test and breach” $2,500 in the second half, they wrote. Gold traded at $2,387 by 1 p.m. Singapore time Tuesday. Bullion has been on a tear, driven by wars in the Middle East and Ukraine, buying by central banks and consumer demand in China. Goldman Sachs Group Inc. says the precious metal's in an “unshakable bull market,” and has raised its year-end forecast to $2,700. UBS Group AG sees $2,500 by the year-end. According to Citigroup, gold will be driven by increased flows from managed money players, who are already showing signs of catching up with demand from physical consumers in China and central banks. The start of a Fed cutting cycle — or a potential re
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Earnings
- 4/12/24 - Beat
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Sec Filings
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- 4/29/24 - Form 424B2
- 4/29/24 - Form 424B2
- C's page on the SEC website