Analysts at Citigroup upped their 2021 gold price forecast, citing “we lift the 2021E base case gold price forecast by ~$300/oz, versus our early July update, to a record $2,275/oz.” Key quotes “Maintain our 0-3m point-price target at $2,200/oz and a 6-12m target at $2,400/oz. Occasional liquidation squeezes, drawdowns, and profit-taking activity for gold seem likely in a high volatility market environment. But investors will probably buy that dip on the back of an accommodative central bank reaction function. Record weak gold jewelry consumption and tepid official sector gold demand may limit the performance of gold The record pace of inflows and overall growth in bullion ETF holdings reflects strong investor appetite for gold. Greater inclusion of gold by portfolio asset allocators, especially non-traditional players (e.g., pensions, insurance, family offices), is a further tailwind for the bullish gold thesis in the medium-term. Current Fed policy and liquidity provisions have also tempered concerns about another sharp collapse in inflation expectations. So the overall gold price trend should, on balance, remain upward sloping in the current regime.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY regains 75.00 as Aussie Retail Sales disappoint FX Street 2 years Analysts at Citigroup upped their 2021 gold price forecast, citing “we lift the 2021E base case gold price forecast by ~$300/oz, versus our early July update, to a record $2,275/oz.” Key quotes “Maintain our 0-3m point-price target at $2,200/oz and a 6-12m target at $2,400/oz. Occasional liquidation squeezes, drawdowns, and profit-taking activity for gold seem likely in a high volatility market environment. But investors will probably buy that dip on the back of an accommodative central bank reaction function. Record weak gold jewelry consumption and tepid official sector gold demand may limit the performance of gold The record pace of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.