华尔街“黄金空头”罕见空翻多，金价或再创历史新高？

Core Viewpoint - The article highlights a significant shift in Citigroup's outlook on gold, moving from a bearish to a bullish stance, with a revised price forecast for gold reaching $3,500 per ounce in the next three months, up from a previous forecast of $3,300 per ounce [1][2]. Group 1: Citigroup's Revised Gold Outlook - Citigroup has adjusted its gold price expectations, raising the forecast for the next three months from $3,300 to $3,500 per ounce, and the trading range from $3,100-$3,500 to $3,300-$3,600 per ounce [1]. - The bank's previous bearish outlook from June, which anticipated gold prices dropping below $3,000, has been overturned due to factors such as weak U.S. labor data and geopolitical risks from the Russia-Ukraine conflict [2][4]. Group 2: Demand and Market Dynamics - Since mid-2022, total gold demand has increased by over 33%, contributing to a near doubling of gold prices in the second quarter of this year [3]. - Strong investment demand, ongoing purchases by central banks, and resilient jewelry demand are identified as key drivers of the rising gold prices [3]. Group 3: Economic Indicators and Market Reactions - Recent U.S. economic data, including a significant revision of non-farm payrolls, has led to volatile gold price movements, with prices surging past $3,400 per ounce amid rising expectations for interest rate cuts by the Federal Reserve [6]. - The market is reacting to perceived economic weaknesses and adjusting expectations for future monetary policy, with analysts suggesting that the focus will shift to U.S. fiscal expansion and potential rate cuts [6]. Group 4: Central Bank Activity and Investor Behavior - Global gold demand in the second quarter reached 1,249 tons, a 3% year-over-year increase, driven primarily by strong investment demand [9]. - Central banks continued to purchase gold, adding 166 tons in the second quarter, although at a slower pace, indicating sustained high levels of gold accumulation amid economic uncertainties [9].