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Gold Takes a Breather at $3,357 After Friday’s Rally, But Bulls Eye $3,500 Target

How Much Gold Should You Really Own?
How Much Gold Should You Really Own?

Gold prices dipped slightly on Monday after last week’s strong rally, falling 0.2% to $3,356.91 per ounce.

The decline came as U.S. Treasury yields rose and investors took profits following Friday’s 2% surge. Despite the pullback, market sentiment remains bullish due to weak U.S. jobs data that increased expectations for a Federal Reserve rate cut in September.

Investment bank Citi raised its three-month gold price target to $3,500 per ounce, citing concerns about U.S. economic growth.

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