Citi Sets Short-Term Gold Target at $4500 Amid Import Weakness

Citigroup maintains a $4500 short-term gold price target for the next three months, citing subdued Indian import demand despite seasonal restocking trends and geopolitical risks.

Woofun AI reports that Citigroup has established a short-term gold price target of $4500 for the upcoming 0 to 3 months. The bank notes that India's gold imports are expected to remain low in the third quarter due to ample scrap supply, cautious consumer sentiment, and local price discounts, which suppress fresh import demand despite historical seasonal strength.

The target assumes a relaxation of tensions in the Strait of Hormuz and a more dovish Federal Reserve stance.

However, Citigroup highlights potential downward pressures, including significant geopolitical re-escalation, AI-driven derisking operations, and the possibility of the Federal Reserve maintaining a hawkish policy.