Citi has upgraded its:
- 0 to 3 month forecast for gold to $2800 from $2700.
- Sets 6-12 month target to $3000 an ounce.
- Increases 6– 12 month target for silver from $38 an ounce to $40 an ounce
Gold is currently trading near unchanged at $2720.60
Looking at the daily chart below, the price of gold is channeling with a top-side target currently at $2752 and moving higher.
Silver is currently trading at the highest level since November 2012.
This article was written by Greg Michalowski at www.forexlive.com.
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