Citigroup: Gold Bull Market Could Persist in the Short Term

BlockBeats News, September 22nd, a Citigroup analyst stated that the gold bull market may continue in the short term. The analyst pointed out that both cyclical factors (such as the ongoing weakness in the U.S. labor market) and structural factors (such as concerns about the Fed's independence) are expected to continue to favor gold in the short term. They added: "Currently, almost all factors are supportive of the gold bull market." Previously, Citigroup had a three-month target price for gold of $3,800 per ounce. (FXStreet)