Gold price can hit $3,500 in 3 Months, says Citi

A summary of the most important gold news and analysis of the last week.

Gold price USD/OZ: $3,303.84 [View live gold price.]

Change from last week: -$25.13 (-0.75%)

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Gold news

• Gold price can hit $3,500 in 3 Months, says Citi

• Goldman Sachs tips gold to hit US$3,700/oz as central banks and investors drive demand

• Gold will reach $4,000/oz, silver will hit $40/oz toward year-end as global turmoil resumes – BoA’s Blanch

• Why central banks are playing a big role in pushing up gold prices

• U.S. sanctions push global powers toward gold-backed alternatives - Atlantic Council

• Gold buying by emerging markets central banks up five-fold since 2022: Goldman Sachs

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🌐 World gold news

🇦🇺 Australia

• Tennant Creek hopes gold mine reopening marks return to 'gold capital'

• Kaiser Reef reports record gold pour at Henty mine post-acquisition

🇨🇳 China

• China’s gold imports via Hong Kong nearly tripled to 43.5 tonnes in April as premiums rose

• Shanghai Futures Exchange offers overseas investors and brokers direct access to gold, silver contracts as China pushes for pricing power over commodities

🇬🇭 Ghana

• Ghana eyes $12bn annual windfall from small-scale gold

🇮🇳 India

• India's gold hoard up 7% at 879.59 tonnes in FY25

🇵🇹 Portugal

• Bank of Portugal's gold reserves up 34%

🇸🇬 Singapore

• Ultra-rich moving gold bullion to Singapore

🇨🇭 Switzerland

• Swiss monthly gold imports from the U.S. hit highest since at least 2012

🇹🇿 Tanzania

• Tanzania’s gold reserves hit 3.7 tonnes

🇦🇪 United Arab Emirates

• How the UAE became the world's second-largest hub for gold trade

• Dubai gold rate 'too close' to all-time high for shoppers

🇺🇸 United States

• Texas Senate advances new bill for digital currency tied to gold and silver

• DeSantis signs bill recognizing gold, silver coins as legal tender in Florida

🇻🇳 Vietnam

• Vietnam’s Party chief calls for end to state monopoly on gold bullion

"Vietnam’s top political leader has called for an end to the state’s monopoly on gold bullion production, urging a shift toward market-oriented regulation that still preserves government oversight."

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• Currency: Kyrgyzstan to launch gold-backed, dollar-pegged USDKG stablecoin in Q3

• Wall Street giant Cantor Fitzgerald to launch gold-backed bitcoin fund

Read more about gold-backed cryptocurrencies.

Gold Weekly features curated articles from various sources and is not financial advice. For advertising and news submission requests, contact us.