Citi Bank: Silver Will Reach $150 per Ounce in 3 Months

Citi (Citi), a subsidiary of Citigroup (Citigroup), forecasts a continued strong rally in silver prices, expecting the spot price to reach $150 per ounce within three months.

According to Bloomberg, silver has experienced a sharp increase of nearly 50% since the beginning of 2026, marking one of the strongest historical moves for the white metal, surpassing the $100 per ounce level for the first time.

Bank analysts, led by Max Leighton, stated in an analytical memo that strong demand from China remains the main driver of the price increase, especially amid a supply shortage. They pointed out that high price levels are now necessary to motivate silver holders to release additional quantities into the market.

The bank added that silver's current performance resembles gold but at a faster pace, describing its movements as a "double version of gold," with this trend expected to continue until silver becomes relatively high-priced compared to historical gold standards.

Citi explained that the current rally is driven by a combination of strong physical demand for silver and speculative activity in a low-liquidity market, with Chinese buyers playing a pivotal role in leading the wave. Meanwhile, the bank noted that flows into silver-backed exchange-traded funds (ETFs) are declining, reflecting a shift by investors toward holding physical silver directly instead of related financial instruments.