Group 1 - The core viewpoint is that Citigroup expects gold prices to stabilize between $3100 and $3500 per ounce in the third quarter due to easing geopolitical tensions in the Middle East and improved global economic growth prospects [1] Group 2 - The geopolitical situation in the Middle East has shown signs of improvement, which is influencing market expectations for gold [1] - Global economic growth outlook is becoming more favorable, contributing to the anticipated price range for gold [1]

Group 1: Current Gold Market Performance - International spot gold prices have been in a downward trend, falling below $3,400 per ounce as of June 19, with a drop of 0.48% and a daily low of $3,347.20 per ounce [2] - In the domestic market, gold prices from certain brands and bank investment gold bars have also seen slight declines, with the Shanghai gold main contract down 0.49% [2] - The A-share precious metals sector and gold concept sector fell by 1.90% and 2.41% respectively, indicating poor recent performance in the gold market [2] Group 2: Factors Influencing Gold Price Decline - Global economic growth prospects have improved, leading investors to prefer stocks and emerging industries over gold, which diminishes gold's appeal as a safe-haven asset [3] - The weakening of gold's safe-haven attributes is evident as geopolitical tensions have not escalated significantly, reducing demand for gold as a protective investment [4] - Investment demand for gold has weakened due to the diversification of financial markets, with investors drawn to high-return sectors like digital currencies and emerging technologies [5] Group 3: Monetary Policy Impact - The Federal Reserve is maintaining interest rates in the range of 4.25% to 4.5%, but uncertainty remains regarding future monetary policy, which could affect gold prices [6] - Despite the current downward trend in gold prices, a survey indicates that nearly 43% of central banks plan to increase their gold reserves in the coming year, suggesting potential long-term support for gold prices [6]