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Gold plunged 6% in the day, causing panic in the market. Citi: Its target price of US$4000 has turned short.

Online reports reported that gold prices plunged 6% in the day, and investors are reassessing the uncertainties that drive funds to safe-haven assets. Maximilian Layton, an analyst at Citi Research, pointed out in the report: "We expect that the end of the shutdown of U.S. government departments and the trade situation may push gold prices into the consolidation stage in the next 2-3 weeks." Layton said Citi maintains its gold target price at around $4000 per ounce-he specifically emphasized that this level was previously regarded as an ideal (bullish) target but has now turned into a "bearish" expectation. Current spot gold trading is around US$4140 per ounce.

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