Citigroup expects gold prices to exceed the record level they achieved in 2011.

According to Arabia Net, the group expected that gold would rise to a record not seen before during the next six to nine months, and there is a 30% possibility that gold is It will reach $ 2,000 an ounce within three to five months.

The group indicated in its third-quarter report on its commodity price outlook that prices benefit from concessional monetary policy, a decline in the real rate of return, standard flows of traded funds, and an increase in the allocation of Origins.

The nominal price of gold has set a new record in the price of the currency in all countries outside the Group of Ten, and in the major emerging markets this year, according to the report, which confirmed that it is a matter of time to reach New record price in US dollars.

On the level of other minerals, Citigroup was also optimistic about gold and palladium during the period between six months to a year.

The silver ounce is expected to rise to $ 25, supported by sustainable investment demand and the recovery of global growth. The bank recommended purchasing palladium on the declines, expecting it to reach $ 2,200 an ounce by the end of the year.

Gold prices stabilized today, Monday, to solidify their feet above the level of $ 1,800 an ounce, as the attractiveness of the metal as a safe haven was reinforced by fears about the growth of Corona virus infections around the world, But the dollar's rise curbed the gains.

By 7:21 GMT, the spot price of gold was stable at $ 1808.92 an ounce. US gold futures settled at $ 1809.50, little changed.

Michael McCarthy, chief strategist at CMC Markets, said there are technical indications that the US dollar may rise and perhaps that is why we see traders in the gold market lifting. The cap is about the price right now.

The dollar index rose 0.2%, which increases the cost of the metal over other currency holders. Palladium fell 0.7% to $ 2008.01 an ounce, and platinum fell 0.1% to $ 836.91, while silver settled unchanged at $ 19.32.

(Fun Knowledge of Knowledge)