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<Research>Citi Expects Silver to Continue Outperforming Gold, Raises ST TPs for Gold/ Silver to US$5,000/ US$100 per Ounce
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Citi Research issued a research report raising its short-term price forecasts for the precious metal complex. This adjustment is due to heightened geopolitical risks, ongoing physical market shortages and renewed uncertainty regarding the Fede's independence, suggesting a continued bull market in the short term. The broker's current base case scenario target prices for the next 0-3 months are US$5,000 per ounce for gold and US$100 per ounce for silver. Under the 'goldilocks economy' growth scenario in the US, there may be a reduction in investment portfolio hedging demand, with funds shifting from precious metals to cyclical/ risky assets such as equities, and continued gold price underperformance against silver, PGMs, and base metals, Citi Research added. AASTOCKS Financial News Website: www.aastocks.com |
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