Citi Sees Silver Surging to $90 Within a Year

Analysts at Citi have projected that silver could reach $90 within the next 12 months, up from its current price of around $63 per ounce. This forecast comes on the heels of the precious metal's recent decline to nearly half its all-time high of over $121 per ounce.

Citi believes a less hawkish Federal Reserve and improving geopolitical conditions could lead to increased demand for silver, driving its price higher. The bank also expects silver to be more volatile than gold in the near future.

The iShares Silver Trust has seen significant gains in recent months, rising nearly 50% in the past year due to rising silver prices. This exchange-traded fund tracks the price of silver and can serve as a diversification option for investors.