(Bloomberg) — Citigroup Inc. expects gold prices to hit a record $3,000 an ounce within three months, with geopolitical tensions and trade wars stoked by US President Donald Trump boosting demand for safe-haven assets.
Trump jolted markets with the prospect of tariffs that could slow economic growth, reignite inflation and disrupt global commerce. Investors will continue to seek bullion’s security and central banks are likely to keep building out their reserves, analysts including Kenny Hu wrote in a report.
“The gold bull market looks set to continue under Trump 2.0,” the Citi analysts said, citing risks such as slower growth and high interest rates.
https://finance.yahoo.com/news/gold-steady-near-record-high-003402782.html
As gold miners start to move, it's important to put into perspective where we are in terms of valuations relative to history.
Based on price-to-net asset value metrics, these companies are currently at their most undervalued levels in four decades.
Let the bull market begin. pic.twitter.com/JxAJoAIlQe— Otavio (Tavi) Costa (@TaviCosta) February 6, 2025