Bank of America and Citigroup released reports respectively, predicting the long-term gold price to reach $3,000 per ounce
Gold prices are expected to rise to $3,000 per ounce based on reports released by Bank of America and Citigroup. "In the next 12-18 months, gold prices may reach $3,000 per ounce, although current fund flows do not support this price level," Bank of America pointed out. "Physical ETF inflows and LBMA clearing volume rebound will be encouraging initial signals." Citigroup's base scenario is that gold prices will rise to $3,000 per ounce in the next 12 months, and the bank's analysts said that expected Fed rate cuts should be particularly beneficial for precious metals.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Arizona Senate Approves Bitcoin Reserve Bill: A Leap Towards Crypto Dominance in the U.S?
Trailblazing or Isolated Incident? Evaluating Arizona's Groundbreaking Bitcoin Reserve Bill and Its Potential Ripple Effect Across U.S. States
DeepSeek’s Debut Stirs Crypto Market, BTC ETFs Drop by $457M – Insights Revealed
DeepSeek's Entry Culminates in $534M Crypto Outflows, Shaking BTC and Ethereum ETFs While XRP Shows Resilience
Ethereum’s Active Users Soar 37%: Are Institutions and DeFi Driving Growth?
Unpacking the Factors Behind Ethereum's Rise: Examining the Role of DeFi and Institutional Investment
CME Group to introduce options on Bitcoin Friday Futures, which are priced at 1/50th of a bitcoin
CME Group, the world’s largest operator of financial derivatives exchanges, today announced it will introduce options on Bitcoin Friday Futures (BFF) on Feb. 24, pending regulatory review.Financially-settled options on BFF contracts will complement CME Group’s existing suite of physically-settled options on bitcoin and ether.
Trending news
MoreCrypto prices
More
