Citi has revised its short-term gold price target to $3,800, becoming the first major institution to make such a cut for the end of 2025. This adjustment reflects a more cautious outlook on gold's performance, with expectations that the market breadth will take longer and deeper to recover than previously anticipated. Additionally, Citi has set a short-term price target of $3,660 and a mid-term target of $3,500, indicating a tempered forecast for the precious metal's valuation.