Golden Finance reported that Citi and UBS raised their gold price expectations due to trade war concerns and central bank increase in holdings, and the gold bull market is expected to continue. Citi raises its short-term target to $3,000 per ounce and raises its annual average price forecast from $2,800 to $2,900; UBS also raises its 12-month target to $3,000. Gold has risen to US$2,860, up about 9% this year. At the same time, benefiting from the rise in gold prices, gold-backed tokens such as PAXG and XAUT outperformed the crypto market. It is expected that if the gold price continues to rise, such assets will further benefit.