Original article by David Rogers
The Australian – Page: 19 : 18-Jun-25

US investment bank Citi is bearish about the price of both gold and iron ore. The gold price has risen by about 30 per cent so far in 2025, and peaked at a record $US3,500 an ounce in April. However, Citi has forecast that it will fall around $US2,5000 to $US2,700 an ounce by the end of 2026, due to factors such as lower investment demand, an improving outlook for the global economy and US interest rate cuts. The iron ore price in turn has shed about five per cent in the year-to-date, and is currently trading at around $US93 per tonne; Citi expects it to fall to around $US90 per tonne over the medium-term.

CORPORATES
CITIGROUP INCORPORATED