Gold May Climb to $2,500 in the Next Year, Citigroup Says

Bloomberg reported that Citibank says debt concerns may push gold prices to $2500.

The market news is quoted as saying:

“The threat to the global financial structure during the credit crisis has led to high net-worth individuals seeing gold as an insurance against such instability in future,” a team of analysts including London-based Jon Bergtheil wrote today in a report. “This insurance role will likely continue to assist demand while concerns remain about sovereign risk and the longer-term issue of whether the dollar will still be the world’s reserve-currency in 5-10 years time.”

To read the full market news, click here.