Citigroup (Citi) raised its gold price forecast for the next three months.
The new forecast is $2,800 per ounce, up from their previous forecast of $2,700 per ounce.
Gold prices are already near all-time highs.
Currently, gold trades at around $2,751 per ounce, close to last week’s peak of $2,758.58 (recorded on October 23).
NEW US BILL PROPOSES SELLING GOLD TO BUY BITCOIN A new bill has been proposed by US Senator Cynthia Lummis. The bill aims to establish a national strategic reserve of Bitcoin. Lummis suggests selling part of the US Federal Reserve’s gold reserves to finance Bitcoin purchases. The proposal aligns
MICROSTRATEGY BUYS $4.6 BILLION WORTH OF BITCOIN IN HISTORIC DEAL The company bought 51,780 Bitcoin for about $4.6 billion. This is MicroStrategy's biggest Bitcoin acquisition since it began investing in 2020. MicroStrategy now holds more than $29 billion in Bitcoin. The Bitcoin was bought between
US FEDERAL RESERVE PREPARING A STRONG SURPRISE FOR MARKETS Nomura expects the US Federal Reserve to pause rate cuts in December 2024. Nomura anticipates two 25 basis point cuts in 2025 (March and June), leaving the federal funds rate at 4.125% through next year. Goldman Sachs and JPMorgan expect
GOLDMAN SACHS EXPECTS RBA AND NZRB TO CUT INTEREST RATES Goldman Sachs predicts the Reserve Bank of Australia (RBA) will cut rates by 25 basis points in February 2025. Goldman Sachs expects the Reserve Bank of New Zealand (NZRB) to cut rates by 50 basis points twice more. The final