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Citigroup Predicts End of Gold Rally, Potential Drop to $2,500
Citigroup Predicts End of Gold Rally, Potential Drop to $2,500
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Citigroup's global commodities head Max Layton forecasts a significant downturn for gold, projecting prices could fall to $2,500-$2,700 by late 2026—a $900 drop from current levels. The metal now trades at $3,360.50 after a 70% two-year surge, briefly peaking above $3,500 this spring amid geopolitical tensions and central bank accumulation.
"Our call is very much a 2026 bearish gold call," Layton stated, acknowledging short-term support from risk-averse investors. Third-quarter averages may hold NEAR $3,200 before declining to $3,000 by year-end. The analysis underscores a divergence between immediate safe-haven demand and longer-term macroeconomic headwinds.
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