According to Mars Finance, on January 27th, Citigroup raised its silver price target from $100 to $150 per ounce, citing strong speculative demand and tightening physical supply outside the US. However, it also cautioned that short-term profit-taking by Chinese investors could put downward pressure on prices. Silver futures have fallen 5.7% since surging above $115 per ounce on Monday.
Citigroup raised its price target for silver to $150 per ounce.
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