Gold May Hit Record Before Year-End on U.S. Election Risk, Citi Warns
- Risks ‘may be under-appreciated’ by metals markets, bank says
- Bullion has dropped below $1,900 this week as dollar rebounds
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Gold could hit a record before the year-end, aided in part by the risks surrounding the U.S. presidential election, according to Citigroup Inc.
Uncertainty over the contest and delays about the outcome may “be under-appreciated by precious metals markets,” analysts including Aakash Doshi said in a quarterly commodities outlook. The bank’s forecast implies a surge of more than $200 for bullion futures from current levels.