The reasoning (via Citi's latest update on the metal) is a reiteration, and still in place:
- record pace of ETF investor inflows
- weakening US$
- negative real yields
"are the primary drivers for the push higher"
Citi on levels., first their 3-mth:
- We lift gold short-term targets to ~$2,200/oz
- 6-12m targets breaching $2,400/oz seems plausible
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