Citi raises forecasts for gold, silver platinum prices, warns of SA strike’s impact on platinum

Citigroup has increased its end-of-year price forecasts for gold, silver and platinum by 2%, 5% and 1.5%, respectively. The bank also lowered its forecast for palladium by 1.7%.

“With continued concerns over the economic health in the developed world, safe-haven demand has seen renewed investor interest in gold-linked securities,” Citigroup said.

The bank also noted that the ongoing illegal strikes in South Africa have impacted the supply of platinum and palladium.

Source (English): Reuters Africa