Citigroup predicts a rise in gold prices to 1 thousand 600 dollars in the next 12 months

Citigroup analysts believe that in the coming year, the price of gold could reach $1,600 per troy ounce if the US Federal Reserve reduces the base interest rate to zero and resumes the asset-buying program. On Friday, in the course of trading, gold rose in price to 1 thousand 411.63 dollars per troy ounce. The mark of 1 thousand 400 dollars was exceeded for the first time since September 2013. Demand for gold, as a defensive asset, rose at the end of last week amid increased tension in the Middle East caused by the incident with the US drone shot down by Iranian forces.

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