The record streak for gold continues. The price of one ounce of gold has risen to $2,700. Banks are beginning to update their forecasts. Citi has raised its three-month forecast to $2,800. As gold prices continue to break records, banks have started to revise their predictions. Yesterday, gold reached a historic peak of $2,740 per ounce. Gold has been rising due to the upcoming U.S. presidential elections and ongoing conflicts in the Middle East. Citi Research increased its three-month forecast for gold prices, citing deteriorating conditions in the U.S. labor market and the Federal Reserve’s interest rate cuts as reasons. The bank raised its previous gold forecast from $2,700 to $2,800. It also stated a forecast of $3,000 for the 6-12 month period. The 6-12 month forecast for silver has increased from $38 to $40 per ounce. The analysis also mentioned that in the scenario of oil prices rising in the short term in the Middle East, gold could also rise.