Gold Prices Forecast to Hit $3,000 per Ounce on Inflation and Geopolitical Tensions

• Gold prices could reach $3,000/oz in the next 6-18 months due to geopolitical tensions and inflation hedging demand, according to Citi analysts • Prices have risen over 15% YTD to nearly $2,400/oz on Middle East tensions and the Russia-Ukraine war • Analysts estimate 2024 average prices around $2,340/oz, regularly breaching $2,500/oz in H2 2024 • Citi revised its 2025 gold price forecast 40% higher to $2,875/oz • Costco estimated to be pulling in $100M-$200M monthly revenue from sales of its popular 1 oz gold bars