August 22, Citigroup published the increase of the expected average gold price in the next three years, and the price of gold rose to $ 2,500 / ounce.

According to Dow Jones Newswires reported on August 22, Citigroup (Citi) 22, said that the gold price is expected to increase 10% during the year, and gold price raise chance changes from 5% to 25%. So far, Citigroup became the latest bank who is expected the increase of the price of gold.

Citigroup said Monday that the gold price in 2011 from the previous forecast of $ 1,440 per ounce increased to about $ 1,590 an ounce; the average gold price in 2012 is raised to the expected $ 1,650 an ounce, compared with the previous forecast of $ 1,325 an ounce increased by 25%. The bank also said the average price of 2013 gold at $ 1,225 an ounce in the previous expectations, based on the increase 22% to $ 1,500 an ounce.

Gold market commentary and other institutions, Citigroup said to take the initiative on the grounds that the current debt problems, including the United States and the euro area, including the global financial impact of tensions on the gold price is anticipated that this situation will affect the price of gold in 2012.

Citi also pointed out that the long-term tension and fears that may subside, the bank does not think that once sovereignty to ease financial constraints, price-sensitive jewelry demand for gold investment demand for gold will be able to compensate for the loss, in view of this expected price of gold will fall during the period 2013-2015.

15:55 GMT, international spot gold at $ 1,885.30 an ounce.