Gold edges higher in the early Asian session on signs of demand from bullion ETFs. Inflows from these ETFs have started to emerge, and buying interest from them could become more pronounced into the quarter-end and year-end, Citi Research analysts say in a research report.
Citi stays ‘constructive’ on physical uptake of gold over the next 12 months, given potential Fed rate-cut cycle and U.S. labor-market headwinds. Citi’s base-case target for gold price is $2,800/oz-$3,000/oz for mid-2025.
Spot gold is up 0.1% at $2,365.52/oz.
Source : Dow Jones Newswires
