【Citi: Silver prices may rise to around $32 per ounce in the second ha

Published: Apr 17, 2024 13:16

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【Citi: Silver prices may rise to around $32 per ounce in the second half of the year】Citi research analysts said in a research report that driven by investment demand, silver prices may rise to around $32 per ounce in the second half of the year. Analysts pointed out that the rise in silver prices from mid-February to mid-April was not only due to short-covering activities, but also to new long positions established by investors. In addition, analysts stated that silver ETF inflows in March and April were the strongest since the first quarter of 2021, and silver derivatives traders tended to be bullish as the volatility of call options in the options market was relatively high compared to put options. Analysts also added that the demand for silver from passenger cars and electric vehicles seems to support silver prices structurally. Silver is also considered an industrial metal.

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