Citigroup expects a sharp rally in precious metals, forecasting gold prices to reach $5,000 per ounce and silver to climb to $100 within the next three months. The outlook reflects tightening physical supply, strong investment inflows, and rising geopolitical and macroeconomic uncertainty.
Citi analysts highlight sustained central bank gold purchases, growing demand for safe-haven assets, and increasing concerns over inflation persistence as key drivers behind the bullish call. For silver, the bank points to constrained mine supply alongside accelerating industrial demand, particularly from renewable energy, electronics, and AI-related infrastructure.
The forecast comes as both metals already trade near record highs, signaling that Citi sees further upside momentum rather than a near-term peak. If realized, the move would mark one of the strongest short-term rallies in modern precious metals markets.
