#GoldBullCaseBuilds

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Spot gold is holding near its highs after breaking $4,600/oz. Citi raised its 0-3 month target to $4,800 and kept its 6-12 month target at $5,000, but said more gains need physical demand. A Fidelity International manager doubled gold exposure in three weeks to the fund's 5% cap, while gold ETFs added over 28 tonnes last week, the most since January. Can higher targets and real inflows sustain the rally, or has record-level buying already priced in debt and dollar-credibility concerns?

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