00:00 Speaker A
Gold prices hovering near $3,400 today as investors look to navigate geopolitical uncertainty. Meanwhile, Citi is lowering its short-term and long-term price targets for gold saying, prices could drop below $3,000 per ounce by late 2025 or early 2026. The bank citing declining investment demand and an improving global growth outlook, revising its 0 to 3 month price target to $3,300 per ounce from $3,500 per ounce. And its 6 to 12 month price target, that got a revision too, to $2,800 per ounce from $3,000 per ounce. A different story for silver, Citi forecasting silver prices to rise to $40 per ounce over the next 12 months. And this is boosted by tightening availability and robust demand. The bank even saying silver could potentially reach $46 per ounce by the third quarter of 2025 in a bullish scenario. Today, silver prices remain around $37.
