Citi Sees Silver Prices Surging to $90 on Investment Demand

Citi analysts believe that silver prices could surge to $90 an ounce over the next six to 12 months, driven by investment demand.

The firm reiterated its bullish price targets, keeping its point-price targets unchanged at $75 per ounce for 0 to 3 months and $90 per ounce for 6 to 12 months.

Citi expects 'continued recovery in investment demand' as the Strait of Hormuz situation de-escalates and the Federal Reserve becomes less hawkish.

The firm also highlighted strong demand in India, with a domestic premium of roughly 7%, which is expected to strengthen in the fourth quarter due to the festive and wedding season.