CITIGROUP has become the fifth bank to clear trades in the London OTC gold market, the world’s largest gold trading centre.

Euro Stoxx 50 futures fell 0.16%; Germany's DAX 30 futures fell 0.08%; the UK's FTSE 100 futures fell 0.09%.

CITIC Securities says gold prices and gold stocks have been sharply oversold since the US–Iran conflict; gold equities now carry a wide margin of safety on PE and resource-based valuation metrics. It forecasts gold at USD 4,000–4,500/oz in Q3 2026; if market rate‑hike expectations are fully repriced, gold could return to USD 4,500–5,000/oz. The firm expects the gold sector to benefit from a simultaneous recovery in earnings and valuations and recommends broad allocation to the sector.