Citi Bank has confirmed its bullish stance for gold, with new analysis suggesting that gold prices could hit £2,379 within 18 months – and potentially even sooner than that.
The bank’s head of commodities research for North America, Aakash Doshi indicated that a push away from the U.S. dollar could further fuel central bank demand, which is already running hot. He says this trend could see gold reach £2,379 (+48%) by early 2025 in the best case scenario, particularly if China continues to intensively increase its gold holdings. Interest rate cuts will also help to push prices higher Doshi said.
There’s good news for investors within this long-term bullish outlook, with Citi expecting the more significant price leaps to come a little further down the line. It expects to see prices average £1,704 (+6%) in the very near term. Don’t let this opportunity pass you by. Buy gold now before prices spike.
