The reasoning (through Citi’s newest replace on the metallic) is a reiteration, and nonetheless in place:

  • file tempo of ETF investor inflows
  • weakening US$
  • damaging actual yields

“are the first drivers for the push larger”

Citi on ranges., first their 3-mth:

  • We carry gold short-term targets to ~$2,200/oz
  • 6-12m targets breaching $2,400/ouncesappears believable
The reasoning (via Citi's latest update on the metal) is a reiteration, and still in place:

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