Citi Sees Silver Prices Skyrocketing to $90 Within 6-12 Months

The price of silver has been struggling to reach its all-time high since January, when it hit over $121 per ounce. Currently, it's trading at around $63, roughly half of its peak value.

Citi analysts believe that despite the current volatility, there are multiple catalysts that could send the precious metal higher in the coming weeks and months. According to their forecast, silver could reach $75 in the near term, with a potential target of $90 within six to 12 months.

The iShares Silver Trust (SLV) tracks the price of silver and can be an attractive option for investors looking to diversify their portfolios. While it has come down in value this year, it's still up around 47% in the past 12 months.