[Citibank Expects Gold Prices to Drop to $3,500/oz in September] Odaily Planet Daily News - Citibank predicts that if the Strait of Hormuz remains blocked through this summer, global demand for gold purchases may further shrink, and gold prices could drop to $3,500 per ounce by September. Currently, Citibank has lowered its three-month gold price target from $4,300 per ounce to $4,000 per ounce. (Jin10)