Citi Says It’s ‘Only a Matter of Time’ Before Gold Hits a Record
- Loose monetary policy, low real yields are helping prices
- Citi also bullish silver, with more stimulus talks this week
Photographer: Andrey Rudakov/Bloomberg
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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 Aakash Doshi and Ed Morse said 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.