Citi Cautious on Gold, Anticipates Surge in Silver Prices

SEATTLE (Scrap Monster): Citigroup analysts remained cautious about gold in a research report released on Wednesday. The note predicts a strong increase in silver prices in the interim.

Analysts at Citigroup predict that rising investor demand and constrained supply will push silver prices beyond $40 an ounce in the upcoming months. Max Layton's team of analysts increased their prediction for the price of silver from $38 to $40 for the next three months. The research also recommends a longer-term goal of $43 per ounce for the upcoming six to twelve months.

The 30% increase in silver prices so far this year has outpaced the gold price rally. In June of this year, prices increased by about 10%, breaking $39 per ounce for the first time since 2011. Strong silver fundamentals are reflected in the increase, according to analysts.

Citi, meanwhile, continued to have a more cautious view of gold. The bank stuck to its prediction that gold will consolidate above $3,000 throughout the next quarter before showing a decrease at the beginning of the next year. It forecasts additional declines in gold prices to $2,500 to $2,700 per ounce in the second half of 2026.

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