Commodities
Gold Prices Hold Steady Amid Real Yield Concerns and Lower Oil Predictions
Gold prices remain near $4,400, $4,500 per ounce, roughly 20% below January's record high of $5,597.
The current price gap is attributed to a real yield problem, not a demand issue, according to TD Securities.
Citi expects the Strait of Hormuz to reopen in Q4 2026, which could lead to lower oil prices and alleviate inflationary pressures.
As a result, Citi has raised its short-term gold target price to $4,800 per ounce and projects a price of $5,000 over the 6-12 month horizon.