Gold price climbs again after Citi says record is “matter of time”

According to the University of Oxford’s Smith School of Enterprise and the Environment, Japan’s plants are set to become stranded assets as a result of overcapacity and cheaper power sources, such as renewables.

The bank increased its three, six and 12-month forecasts to $1,200, $1,180, and $1,150 an ounce from $1,100, $1,050 and $1,000 respectively.

Investment bank says the precious metal will continue to grind higher — with that key $1,400 level being the first line in the sand.

BMI Research analysts also believe gold prices bottomed in 2015 and expect the metal to edge higher over the coming quarters.

The Canadian miner posted a loss of $13.9 million in its first quarter.

Strategic shift comes as the world's biggest miner tries to regain investors' confidence.

Companies and authorities now discussing plans to resume production.

Gold prices start the week off down, but are expected to pick up soon again.

The record sale is likely to ramp up speculation about how much a second Lucara diamond — the "Lesedi la Rona" — will fetch at auction next month.