Gold futures tick lower, but keep near record highs. Futures slide 0.4% to $2,881.30 a troy ounce, after hitting a fresh record of $2,906 in the prior session.
Gold's bull market looks set to continue under the Trump administration, with trade wars and geopolitical tensions reinforcing trends toward central bank reserve diversification and de-dollarization, Citi analysts say. Support from emerging market central bank gold demand and global growth concerns should raise both ETF and physical gold demand, they say in a note.
A Russia-Ukraine peace deal, and clarity around whether gold will be exempt from blanket U.S. tariffs could provide a buying opportunity over the coming months, the U.S. bank writes. Citi raises its 0-3 month price target for London gold to $3,000 an ounce, from $2,800, and its 2025 average price to $2,900 from $2,800 an ounce.
Sumber : Dow Jones Newswires
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