Citigroup Reduces Gold Price Prediction, Driven by Shifting Market Dynamics

Citigroup has revised its gold price target downward to $3,800 per ounce, reflecting changing market conditions. The bank anticipates this adjustment in light of reduced geopolitical risks and potential US government resolution efforts. This shift comes after speculation regarding a US government shutdown, contributing to price volatility. Citigroup emphasizes the long-term value of gold as a hedge amidst these temporary shifts.