In the bull market, Citigroup expects the target price of gold to be $5000 and the target price of silver to be $100.

Given the escalating geopolitical risks, physical shortages, and renewed uncertainty regarding the independence of the Federal Reserve, Citigroup has raised its short-term outlook for precious metals. Analysts, including Max Layton, wrote in an email that the future target price for gold in the next 0-3 months has been raised from $4200 per ounce to $5000 per ounce, and the target price for silver has been raised from $62 per ounce to $100 per ounce. The bank stated, "The investment momentum remains strong, with many positive factors likely to continue in the first quarter." The bank's target price for gold in the next 6-12 months is $4000 per ounce, and the target price for silver is $70 per ounce.