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Analysts at Citibank offer their forecasts on gold, given the recent break in the yellow metal below the $1700 mark.

Key quotes

“Gold to hold a $1,600-1,700 handle rather than quickly spike to the $1,850-1,950 area.

Global growth and EM recovery in 2021 could be what supports the next leg higher towards $2,000/oz.

Sees gold to average at $1700 in three months.

6-12 month’s forecast seen at $1900

Gold to reach $2000 in Q3 2021.“