{"id":1196828,"date":"2020-07-20T14:50:43","date_gmt":"2020-07-20T19:50:43","guid":{"rendered":"https:\/\/www.mining.com\/?p=1030250"},"modified":"2020-07-20T14:50:43","modified_gmt":"2020-07-20T19:50:43","slug":"gold-price-climbs-again-after-citi-says-record-is-matter-of-time","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1196828","title":{"rendered":"Gold price climbs again after Citi says record is \u201cmatter of time\u201d"},"content":{"rendered":"

The rally in the gold price regained momentum on Monday as investors continue to pile into hard assets amid a flood of easy money on financial markets in the developed world and expectations of a prolonged period of ultra-low interest rates and currency debasement.<\/p>\n

Gold for delivery in August, the most active contract on the Comex market in New York with 17m ounces traded by early afternoon, touched a high of $1,823.40 an ounce, just short of a near 9-year high.<\/p>\n

Gold is now up 19.7%, or $300 an ounce so far this year. The last time gold traded above $1,800 an ounce was September 2011, but it ended that year at $1,565 an ounce.<\/p>\n

Bloomberg reports<\/a> according to Citigroup’s third-quarter commodities outlook, the price of gold\u00a0“is expected climb to an all-time high in the next six-to-nine months, and there\u2019s a 30% probability it\u2019ll top $2,000 an ounce in the next three-to-five months.”<\/p>\n

\n

\u201cNominal\u00a0gold\u00a0prices have already posted fresh records in every other G-10 and major emerging market currency this year,\u201d the Citigroup analysts said.<\/p>\n<\/blockquote>\n

\n

\u201cIt is only a matter of time for fresh\u201d highs in US dollars, they said.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

US investment bank Citigroup says 30% probability gold price tops $2,000 an ounce in 3 to 5 months.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,949,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196828"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1196828"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196828\/revisions"}],"predecessor-version":[{"id":1196837,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196828\/revisions\/1196837"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1196828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1196828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1196828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}