Citi says Gold Will Hit $2,400/oz in 2012

…and that’s not all. CitiFX, the foreign exchange portion of Citigroup said that gold’s longer term prospects are $3,400/oz and that the precious metal will outperform major currencies, bonds and equities. Gold has already registered returns of 50% a year for the last 11 years and given the current actions of global central banks and governments, the future for gold is as bright as ever. Citi also says that they will not back down on their long term gold forecast, even if gold takes a severe dip below the support at $1,535/oz. ...LINK