Analysts parse Citigroup’s call for $2500 gold
“Gold’s 2021 prospects look bright. Citigroup in recent weeks came out with a $2,500 price target on the yellow metal for 2021, comparing its mosaic of catalysts to that of gold’s 1970-1980 bull market.”
USAGOLD note: Some might question Citigroup’s call after a week that saw the metal plunge almost $100, but gold has a long history of recovering from these kinds of selloffs. Graniteshare’s Will Rhynd, one of the analysts interviewed at the link above, says “the conditions that drove gold to an all-time high this year are very much still in place.” In fact, even with gold’s correction this week taken into account, the metal is still up almost 17% year to date through Friday’s close.
Chart courtesy of TradingView.com • • • Click to enlarge
Repost from 11-30-2020