Citi Forecasts Silver to Hit $90 Within 12 Months

Analysts at Citigroup (Citi) are predicting a significant increase in silver prices within the next 12 months. According to their forecast, silver could hit $90 by then, up from its current price of around $63 per ounce.

The bank believes that a less hawkish Federal Reserve and improving geopolitical issues could lead to greater demand for silver, causing its price to rise.

Citi also expects silver to be more volatile than gold, but with potential upside. The iShares Silver Trust has already risen nearly 50% in the past 12 months, largely due to rising silver prices.