Latest news with #MaxLayton
Mint
04-08-2025
- Business
- Mint
Citi Lifts Gold Short-Term Outlook on Growth Concerns
(Bloomberg) -- Citigroup Inc. revised its forecast for gold, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. The precious metal will trade between $3,300 and $3,600 an ounce over the next three months, due in part to US import levies averaging higher than the anticipated 15%, analysts including Max Layton said in a note on Monday. That contrasts with Citi's view in June, when the bank saw prices consolidating between $3,100 to $3,500. 'The market has been concerned about a US recession due to high interest rates for the past three years, buying gold to hedge the downside risks,' they wrote. 'This fear has likely only increased over the past six months given President Trump's largest-in-a-century trade tariff agenda.' After rallying sharply in the early part of the year and hitting a record high above $3,500 an ounce in April, gold has been in a holding pattern for the last few months as the market seeks fresh direction. Citi's change of heart brings it into line with other more bullish analysts at Goldman Sachs Group Inc. and Fidelity International. Despite their more bullish outlook, the Citi analysts said their previous near-term price forecast of between $3,150 and $3,500 an ounce had 'worked out well', pointing to recent months of consolidation. They also reiterated a more cautious stance on gold in 2026, citing a possible end to the pause on US hiring now that investors have more certainty on trade and possible stimulus from the One Big Beautiful Bill Act. (Corrects headline to remove erroneous reference to previous stance as being bearish, and second paragraph to make clear that Citi changed its short-term view on gold, not it's longer-term view.) More stories like this are available on
See - Sada Elbalad
04-08-2025
- Business
- See - Sada Elbalad
Citigroup Surprises Markets: Gold on Track for a New Historic High
Waleed Farouk In a surprising shift from its previous outlook, Citigroup Inc. has raised its forecast for gold prices, predicting a strong rally that could push the precious metal to historic levels in the coming months. The revision comes amid deteriorating economic indicators in the United States and mounting inflationary pressures driven by newly imposed tariffs. In a research note published Monday, analysts including Max Layton stated that gold is expected to trade between $3,300 and $3,600 per ounce over the next quarter, as Washington imposes import tariffs exceeding an average of 15%. This, they said, adds further pressure to economic growth and boosts gold's appeal as a safe-haven asset. This marks a notable reversal from the bank's projections in June, when it anticipated that gold prices could fall below $3,000 per ounce in the coming quarters. 'The market has been gripped by fears of a U.S. recession over the past three years due to persistently high interest rates, prompting investors to increase their gold holdings as a hedge,' the report said. Analysts added that these concerns have intensified during the first half of this year following the escalation of tariff policies by President Donald Trump, described in the note as 'the largest tariff agenda in a century.' Gold had surged earlier this year, hitting a record high of $3,500 per ounce on April 22, before entering a consolidation phase in recent months as markets searched for clearer direction. Citigroup's new stance aligns with increasingly bullish positions taken by major financial institutions like Goldman Sachs and Fidelity International, both of which have recently voiced greater optimism for gold's long-term prospects. Fidelity had previously indicated that gold could climb as high as $4,000 per ounce, citing a weakening U.S. dollar and growing expectations of interest rate cuts by the Federal Reserve as key catalysts. Despite this more optimistic outlook, Citi analysts maintained a degree of caution about the longer-term outlook. They noted that their previous forecast range of $3,150 to $3,500 had played out well amid recent market stability. However, they flagged 2026 as a potential turning point, citing the possibility of a rebound in the U.S. labor market and the introduction of new fiscal stimulus measures under the so-called 'One Big Beautiful Bill Act', which could limit further gold upside. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
Yahoo
04-08-2025
- Business
- Yahoo
Citi's Gold Bears Turn Bullish on US Growth, Inflation Concerns
(Bloomberg) — Citigroup Inc. (C) revised its bearish forecast for gold (GC=F), with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance The precious metal will trade between $3,300 and $3,600 an ounce over the next three months, due in part to US import levies averaging higher than the anticipated 15%, analysts including Max Layton said in a note on Monday. That contrasts with Citi's view in June, when the bank said gold would trade below $3,000 an ounce in the coming quarters. 'The market has been concerned about a US recession due to high interest rates for the past three years, buying gold to hedge the downside risks,' they wrote. 'This fear has likely only increased over the past six months given President Trump's largest-in-a-century trade tariff agenda.' After rallying sharply in the early part of the year and hitting a record high above $3,500 an ounce in April, gold has been in a holding pattern for the last few months as the market seeks fresh direction. Citi's change of heart brings it into line with other more bullish analysts at Goldman Sachs Group Inc. and Fidelity International. Despite their more bullish outlook, the Citi analysts said their previous near-term price forecast of between $3,150 and $3,500 an ounce had 'worked out well', pointing to recent months of consolidation. They also reiterated a more cautious stance on gold in 2026, citing a possible end to the pause on US hiring now that investors have more certainty on trade and possible stimulus from the One Big Beautiful Bill Act. How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off What's Really Behind Those Rosy GDP Numbers? Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-08-2025
- Business
- Yahoo
Citi's Gold Bears Turn Bullish on US Growth, Inflation Concerns
(Bloomberg) -- Citigroup Inc. revised its bearish forecast for gold, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance The precious metal will trade between $3,300 and $3,600 an ounce over the next three months, due in part to US import levies averaging higher than the anticipated 15%, analysts including Max Layton said in a note on Monday. That contrasts with Citi's view in June, when the bank said gold would trade below $3,000 an ounce in the coming quarters. 'The market has been concerned about a US recession due to high interest rates for the past three years, buying gold to hedge the downside risks,' they wrote. 'This fear has likely only increased over the past six months given President Trump's largest-in-a-century trade tariff agenda.' After rallying sharply in the early part of the year and hitting a record high above $3,500 an ounce in April, gold has been in a holding pattern for the last few months as the market seeks fresh direction. Citi's change of heart brings it into line with other more bullish analysts at Goldman Sachs Group Inc. and Fidelity International. Despite their more bullish outlook, the Citi analysts said their previous near-term price forecast of between $3,150 and $3,500 an ounce had 'worked out well', pointing to recent months of consolidation. They also reiterated a more cautious stance on gold in 2026, citing a possible end to the pause on US hiring now that investors have more certainty on trade and possible stimulus from the One Big Beautiful Bill Act. How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off What's Really Behind Those Rosy GDP Numbers? Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
04-08-2025
- Business
- Bloomberg
Citi's Gold Bears Turn Bullish on US Growth, Inflation Concerns
Citigroup Inc. revised its bearish forecast for gold, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. The precious metal will trade between $3,300 and $3,600 an ounce over the next three months, due in part to US import levies averaging higher than the anticipated 15%, analysts including Max Layton said in a note on Monday. That contrasts with Citi's view in June, when the bank said gold would trade below $3,000 an ounce in the coming quarters.
