Citi says its ‘only a matter of time’ before gold hits a record

Bloomberg/Ranjeetha Pakiam/7-20-2020

“Bullish factors building in the gold market are set to see prices take out the record set in 2011, according to Citigroup Inc. The metal is benefiting from loose monetary policy, low real yields, record inflows into exchange-traded funds and increased asset allocation, the bank’s analysts including Ed Morse wrote in a report. Gold is expected to climb to an all-time high in the next six-to-nine months, and there’s a 30% probability it’ll top $2,000 an ounce in the next three-to-five months.”

USAGOLD note:  Citi also says silver going to $25 over the next six to twelve months.  We featured this report in yesterday’s DMR and repost the link here for those who may have missed it.