Citi Research Revises Upward 2016 Gold Forecast To $1,070/Oz

Published Date: 
Wednesday, January 20, 2016

Citi Research has revised its 2016 average forecast for gold up by 7.5% to $1,070 an ounce, commenting that safe-haven buying is supportive at the start of the year although a stronger U.S. dollar will still take a toll on the precious metal.

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It is estimated that the total amount of gold mined up to the end of 2011 is approximately 166,000 tonnes.

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