According to reports released by Bank of America and Citigroup, gold prices are expected to rise to $3,000 per ounce in the next 12-18 months. Bank of America pointed out that although the current capital flow does not support this price level, the inflow of funds into physical ETFs and the recovery of LBMA clearing volume will be encouraging initial signals. Citigroup's basic scenario predicts that gold prices will rise to $3,000 per ounce in the next 12 months. Analysts at the bank said that the expected Fed rate cuts should be particularly beneficial to precious metals.