Citibank has made a significant revision to its gold price forecast, raising the target price to $3,500 per ounce for the next zero to three months. This adjustment comes amid a period of fluctuating prices, suggesting that investors can expect a consolidation phase between $3,100 and $3,500. Such an upward revision indicates both confidence in the precious metal's resilience and a pivotal moment for investors looking to capitalize on potential gains.

The implications of this adjusted target price are substantial. A price consolidation at this level could galvanize interest from both retail and institutional investors, turning gold into a more attractive asset amid ongoing economic uncertainties. With geopolitical tensions and inflationary pressures playing a prominent role in the markets, gold's status as a safe-haven investment is likely to be reinforced, making Citibank’s forecast a key point of consideration for market participants.