According to online reports, Citigroup will raise its gold price forecast for the next three months from US$3300 per ounce to US$3500, and its expected trading range from US$3,100 -3500 to US$3300 - 3,600 because it believes that the recent U.S. economic growth and inflation prospects have deteriorated. "U.S. economic growth and tariff-related inflation concerns will continue to intensify in the second half of 2025, coupled with a weakening U.S. dollar, will push gold prices moderately higher to record highs," the bank said. Citi also highlighted weakening U.S. employment data in the second quarter of 2025, increasing concerns about the institutional credibility of the Federal Reserve and U.S. statistics, and rising geopolitical risks related to the Russia-Ukraine conflict. Citi estimates that total gold demand has increased by more than one-third since mid-2022. (Jin Shi)