Leading American bank tempers gold outlook as barnstorming run ends

  • After a barnstorming run that saw gold prices hit record highs in April, Citi is reining in its short-term expectations. The bank has lowered its three-month gold price target to $3,150 per ounce, down from $3,500, and expects the precious metal to consolidate between $3,000 and $3,300 over the coming months.