Citibank predicts gold prices may fall to $3,500 per ounce by September

Odaily reported that Citibank expects if the Strait of Hormuz disruption continues into this summer, global gold buying demand may further contract, potentially driving gold prices down to $3,500 per ounce by September. Currently, Citibank has lowered its three-month gold price target from $4,300 per ounce to $4,000 per ounce. (Jinshi)