Citi remain bulls on gold making thing following bullish arguments:
- Second wave concern
- escalating geopolitical risk
- ETF inflows are robust (Physically backed gold ETF holdings elevated to 3266t record high)
On techs further out:
- further upside over time towards ... the all-time high set in September 2011 at 1921.17
And:
- expectations of $2,000/oz being breached in 1H'21 is unchanged
