V i e w p o i n t | 01 Sep 2025 12:38:19 ET │ 12 pages +44-20-7986-2692 charlie.massycollier@citi.com Adam Pickett AC +44-20-7500-5777 adam.pickett@citi.com Global Macro Strategy Buy breakout in gold, stop out of long WIG 20 CITI'S TAKE We buy the breakout in XAUUSD given strong fundamental and technical factors. We also close out our long WIG20 trade at a loss. Macro conditions bullish for gold — We see rising stagflation risks for the US. Leading indicators continue to point towards further labour market ...