Citi Issues New Gold and Silver Forecasts: Upgrades 3-Month Targets
Citi Issues New Gold and Silver Forecasts: Upgrades 3-Month Targets
Citigroup analysts have upgraded their short-term outlook for gold and silver. Citi argues that rising geopolitical risk, signs of tightness in physical markets, and renewed uncertainty around the Federal Reserve’s independence are likely to keep the precious-metals bull momentum intact in the near term.
0–3 months: $5,000 for gold and $100 for silver
Citi raised its three-month gold target from $4,200 to $5,000 per ounce. The bank also lifted its three-month silver target from $62 to $100 per ounce.
In Citi’s view, escalating geopolitical headlines and physical supply constraints can reinforce safe-haven and momentum-driven demand. The debate around Fed independence is highlighted as an additional uncertainty factor that can support hedging flows.
6–12 months: a more cautious base case
The report also flagged that if geopolitical risks around Venezuela, Iran, and Ukraine fade later in the year, defensive demand could cool. Under its 6–12 month horizon, Citi set targets of $4,000 for gold and $70 for silver per ounce.
Bottom line: risk and supply signals matter
Citi’s update suggests that a risk-heavy macro backdrop and supply tightness can keep precious metals supported in the short run, while longer-horizon expectations remain more restrained.
