Analysts at Citigroup enlist key primary drivers behind the gold-price rally while projecting higher targets in the short-term. Key quotes “Key drivers include the record pace of ETF investor inflows, a weakening US$ and negative real yields. Citi predicts a short-term target at ~$2,100/oz. Breaching $2,300/oz over the six-twelve months seems plausible. The contraction in global jewelry demand for 2020 persists and still appears worse than the GFC. This may put downside risks on gold. Russia (CBR) has paused fresh purchases as of April. The PBOC has not increased gold holdings since last September/October, either. Total net buying of EM CBs should slow dramatically in 2020.” 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 Gold Price Analysis: Sidelined near $1,975 amid signs of buyer exhaustion FX Street 3 years Analysts at Citigroup enlist key primary drivers behind the gold-price rally while projecting higher targets in the short-term. Key quotes “Key drivers include the record pace of ETF investor inflows, a weakening US$ and negative real yields. Citi predicts a short-term target at ~$2,100/oz. Breaching $2,300/oz over the six-twelve months seems plausible. The contraction in global jewelry demand for 2020 persists and still appears worse than the GFC. This may put downside risks on gold. Russia (CBR) has paused fresh purchases as of April. The PBOC has not increased gold holdings since last September/October, either. Total net buying of EM… 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.
