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Gold dips to 3500 after Citibank forecast
Citi Bank reports expect gold prices to decline by as much as around 20% by next September, should the closure of the Strait of Hormuz due to Gulf tensions continue, with the ounce dropping from $4,358 to approximately $3,500. The price of gold depends on geopolitical tensions and military escalation between Iran and the United States, with an increase anticipated if a détente agreement is reached between the two sides.
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