TechFlow, September 30 — According to Jinshi Data, Citigroup Research analysis indicates that gold and silver may continue their upward trend, driven by cyclical and structural factors. Structural tailwinds include concerns over U.S. debt, the dollar’s reserve currency status, and the Federal Reserve’s independence. Cyclical supportive factors include ongoing weakness in the U.S. labor market, concerns over tariff impacts, and broader global economic growth worries. Silver remains in a persistent physical deficit due to strong demand from the solar photovoltaic market. Citigroup has raised its three-month gold price forecast from $3,800 per ounce to $4,000 per ounce, and silver from $45.00 per ounce to $55.00 per ounce.
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