Citi Makes a “Wild” Forecast for Silver Prices | Business Turkey Today Citi delivers a bold forecast for silver, lifting its short-term price target to $150 per ounce as investors shift from gold, supply tightens, and momentum in precious metals accelerates.

Citi Makes a “Wild” Forecast for Silver Prices businessturkeytoday.com/citi-makes-a...

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Citi sees gold below $3,000 after Q3 2025 on weak demand, growth optimism (Reuters) -Citi lowered its short-term and long-term price targets for gold, projecting prices could drop below $3,000 per ounce by late 2025 or early 2026, driven by declining investment demand and an improving global growth outlook, the bank said in a note dated Monday. The bank revised its 0-3 month and 6-12 month gold price targets to $3,300 per ounce from $3,500 and $2,800 per ounce from $3,000, respectively. Gold prices are expected to continue consolidating between $3,100-$3,500 per ounce in the third quarter in the bank’s base case, supported by geopolitical risks, potential U.S. tariff policy changes, and U.S. budget concerns, before a downward trend begins, Citi noted. "We see investment demand for gold abating in late 2025 and 2026, as ultimately, we see the President Trump popularity and US growth ’put’ kicking in, especially as the US mid-terms come into focus," Citi said in a note. Gold could return to around $2,500-$2,700/oz by the second half of 2026, the bank said. In Citi’s bullish case scenario, gold prices could exceed $3,500/oz in the third quarter on stronger hedging and investment demand amid U.S. economic and geopolitical tensions. While in bank’s bearish case prices could fall below $3,000/oz as tariff disputes are resolved, geopolitical risks ease, and the U.S. economy avoids a hard landing, though emerging market central bank buying could keep prices elevated. However, Citi assigned only 20% probability to their bullish and bearish case each. Silver could potentially reach $46 per ounce by the third quarter of 2025 in a bullish scenario, bolstered by a quicker resolution to the U.S.-China trade war and hawkish Federal Reserve policy, the bank added.

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Citi forecasts NBP to cut interest rates following governor’s speech Citi economists projected that the National Bank of Poland (NBP) is likely to lower interest rates by 50 basis points at its upcoming meeting. This prediction aligns with recent remarks made by NBP Governor Adam Glapinski, who hinted at the possibility of rate cuts in the near future. Glapinski’s speech, published on April 18, conveyed a more optimistic outlook for inflation to return to the target than previously expected. The governor cited a favorable slowdown in wage growth and a significant drop in oil prices as contributing factors. These comments are in line with the dovish tone observed during the NBP’s April press conference. Citi’s expectations are supported by the latest labor market data, which indicates a continued weakening of wage pressure. Consequently, the analysts at Citi anticipate a further deceleration of inflation in April. The NBP’s potential move to reduce interest rates would come as a response to the evolving economic indicators. Glapinski’s speech and the subsequent analysis by Citi suggest that the central bank is prepared to adjust its monetary policy to address the changing inflationary landscape. The anticipation of a rate cut is based on the convergence of several economic factors, including labor market trends and commodity prices. Should the NBP follow through with the rate cut as Citi predicts, it would mark a shift in the central bank’s strategy. The decision to lower rates would be aimed at steering inflation towards the NBP’s target, balancing economic growth with price stability. The Monetary Policy Council’s meeting next week will reveal whether Citi’s forecast aligns with the central bank’s monetary policy actions. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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