Citi: Driven by cyclical and structural factors, gold and silver may continue their upward trend
2025-09-30 06:19:14
Gold and silver are likely to continue their upward trend, driven by cyclical and structural factors, according to Citi Research analysis. Structural positives include concerns about U.S. debt, the dollar's reserve currency status, and the independence of the Federal Reserve. Cyclical positives include continued weakness in the U.S. labor market, concerns about the impact of tariffs, and broader global economic growth concerns. Silver remains in a persistent physical shortage due to strong demand in the solar PV market. Citi raised its three-month-old forecast for gold to $4,000 an ounce from $3,800 and silver to $55.00 an ounce from $45.00. (Gold Ten)
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