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Citi Cuts 3-Month Gold Target to $4,000 Per Ounce; Energy Markets React to Geopolitical Shifts

Commodities Metals

2026-06-09 06:43:08

According to Citi on June 9, the bank cut its 3-month gold price target to $4,000 per ounce from $4,300, while maintaining its 6-12 month target at $5,000 per ounce. In energy markets, India's refiners increased liquefied petroleum gas production to 53,000 tonnes daily, up 60% from pre-Iran crisis levels, according to Indian government officials. Sources report Russia plans to reduce crude exports from western ports by approximately one-third in June due to refinery production increases. Additionally, Trump stated on June 9 that negotiations with Iran are progressing "very smoothly" with a potential agreement possible by week's end.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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