Gold nears seven year high but could hit $1,700 on coronavirus impact, Citi says
“Citi commodity strategists upgraded their six to 12 month level to $1,700 per ounce and said they expected nominal highs of $2,000 in the next 12 to 24 months.”
USAGOLD note: Citbank reiterates its bullish call on gold for 2020.
|ALERT! Institutional shortages of physical gold and silver have impacted hedging facilities in the New York Comex futures market, creating a unique market condition where the spot prices of gold and silver at which a physical dealer can hedge - and therefore use as a basis to price it products - is currently trading approximately $20 higher (gold) and 20¢ higher (silver) than what our pricing system indicates in the menu bar above. The June gold futures contract represents a more accurate price at which gold products will be priced against. Due to these extraordinary pricing conditions, all gold and silver orders must be confirmed by telephone only. We are closely monitoring this situation, and we will update when more information becomes available.|
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