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Commodities

Citi Sees Gold Soar to $4,800 as Strait of Hormuz Reopens

Guavy AI Editorial Team
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Gold
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The price of gold futures (GCMAIN) is currently sitting at $4,466.5 per ounce, down 0.62% from its previous close.

Citi has raised its short-term target price for gold to $4,800 per ounce, expecting the resumption of navigation in the Strait of Hormuz in Q4 2026 to alleviate U.S. inflationary pressures and interest rate burdens.

The bank maintains a bullish outlook on gold, anticipating weaker real interest rates and a softer U.S. dollar will support gold prices.

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