Gold Price Forecast: XAU/USD to average sub-$1600 in 2022 – Citibank

Analysts at Citigroup offer their price forecasts for gold and oil, with a bearish outlook on the bright metal for the next year.

Key quotes

“We are bearish spot and forward gold markets, forecasting a sub-$1,600/oz average in 2022.”

“See brent crude oil prices averaging $69/bbl in 2021, $67/bbl in 2022.”

“WTI crude oil prices averaging $66/bbl in 2021, $64/bbl in 2022.”

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