The Road to $3,000 Gold: Citi Analysts Eye Central Bank Moves and Global Economic Trends

Citi analysts predict a potential surge in gold prices to $3,000 per ounce and oil to $100 per barrel in the next 12 to 18 months, driven by three key catalysts: a significant increase in central bank purchases of gold, the onset of stagflation, or a deep global recession. Gold’s price, already at $2,016, could rise by approximately 50% due to these factors. The analysts highlight “de-dollarization” in emerging market central banks as a primary catalyst, which could lead to a crisis of confidence in the U.S. dollar and significantly boost gold purchases. This shift could challenge jewelry consumption as the dominant force in gold demand, marking a significant change in the market dynamics of gold.