Citi Raised Short-Term Gold Price Target Amid Tariff Concerns

In a research note published this Sunday, Citi foresees gold prices to consolidate between $3,100 and $3,500 per ounce.

SEATTLE (Scrap Monster): Citi declared a change to its short-term gold price target. Due to growing geopolitical tensions and problems with tariff escalation, the aim has been upped to $3,500 per ounce. In H2 2025, it is anticipated that prices would level off around their present levels. Since 2023, Citi has maintained an optimistic outlook on the price of gold.

It should be mentioned that starting in June, the U.S. government threatened to slap a 50% tax on the European Union. But later on Sunday, President Trump granted the EU's request to delay the proposed tariffs until early July of this year, an additional month.

Not $3,000, Gold Prices Could Hit $3,300 in 2025

According to a research report released this Sunday, Citi predicts that the price of gold will stabilize between $3,100 to $3,500 an ounce. This exceeds the previous estimate of between $3,000 and $3,300 per ounce.

Meanwhile, the brokerage held by its cautious long-term gold outlook. For this situation, the bank gives two explanations. First, as the U.S. midterms draw near and the Federal Reserve lowers interest rates, the growth potential and associated equity concerns should unwind. Additionally, household gold holdings are at their greatest points in nearly 50 years.