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Investing.com- Sell Oil Rallies, Wait to Buy Near-term Dip in Gold: Citi

November 11, 2024
Buy Gold on Dip

Article by Sam Boughedda in Investing.com

In a note to clients Thursday, Citi analysts advised a cautious approach to oil and gold following Donald Trump’s election victory and a Republican “red sweep” of Congress.

The recent shifts in global markets, with a 1-5% drop in oil, gold, copper and emerging market equities, reflect concerns over potential tariff-driven trade tensions with China and reduced global demand, according to the bank. 

Citi maintains its bullish stance, targeting $3,000 per ounce, driven by factors like the ......

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