Citi raises silver target price to $150 per ounce.

Citigroup's investment research has raised its target price for silver from $100 per ounce to $150 per ounce. Citigroup stated in a report, "We expect bullish factors to remain unchanged in the short term, supporting strong investment/speculative demand, and possibly leading to further tightening of physical supply outside the United States." Citigroup added that a short-term threat to the upward trend in silver is a wave of profit-taking by Chinese investors during the lunar new year. Silver futures fell by 5.7% most recently after rising by 14% on Monday, to above $115 per ounce.