Citigroup Say Gold May Top Record At $2,000 Per Ounce

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Published : September 11th, 2019
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◆ Gold will “trade stronger for longer” and Citigroup see gold possibly topping new nominal highs at $2,000 an ounce in the next year or two

◆ Citi is bullish on gold due to the prospect of the Fed cutting interest rates to zero, heightened geopolitical tensions and rising risks of a global recession (see News below)

◆ Strong demand from institutional investors and central bank diversification will provide support for gold prices

◆ Citigroup says recession risks and strong investor demand underpin their positive outlook for gold

Source: Bloomberg

Gold in USD – CPI Inflation Adjusted – 1970 to Sept 2019. Source: Macrotrends.net

NEWS and COMMENTARY

 

Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)

10-Sep-19 1494.60 1498.25, 1211.52 1211.34 & 1353.51 1357.11
09-Sep-19 1509.95 1509.20, 1223.81 1220.34 & 1368.62 1364.92
06-Sep-19 1504.95 1523.70, 1223.52 1237.09 & 1363.94 1378.49
05-Sep-19 1542.60 1529.10, 1257.06 1238.72 & 1397.44 1380.78
04-Sep-19 1538.80 1546.10, 1265.05 1269.97 & 1397.69 1403.86
03-Sep-19 1532.45 1537.85, 1278.06 1277.80 & 1400.35 1403.44
02-Sep-19 1523.35 1525.95, 1260.42 1265.01 & 1388.69 1391.51
30-Aug-19 1526.55 1528.40, 1253.14 1251.15 & 1382.75 1383.51





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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth.
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