Citigroup lowers 3-month gold price target to $4,000/oz

Odaily Odaily reports that Citigroup has lowered its 3-month gold price target to $4,000 per ounce, from a previous target of $4,300 per ounce, while maintaining its 6-12 month gold price target unchanged at $5,000 per ounce. Citigroup stated that despite negative short-term momentum, gold prices are expected to eventually rebound as the situation in the Strait of Hormuz eases. (Jin Shi)