Deepchao TechFlow news: On July 28, Citigroup said that, under its baseline scenario, despite the third quarter historically being a peak seasonal stocking period, India’s gold import volume will remain weak in the third quarter. The reasons are ample scrap supply, cautious consumer sentiment, and local price discounts, which curb demand for fresh imports. However, Citigroup still set a short-term gold target price for 0 to 3 months at $4,500. The bank said this target assumes tensions in the Strait of Hormuz ease and the Federal Reserve turns less hawkish. In the near term, there remain many risks that could cause gold prices to fall again, including major further escalations, AI-driven de-risking actions, and the Federal Reserve’s continued hawkish stance. (Jinshi)