Silver Has Grown Tired of Being "Poor Man's Gold" as Citi Targets $150
China’s buying frenzy and a historic supply squeeze are pushing the white metal into unchartered territory, leaving gold in the dust.
Silver has apparently grown tired of being the "poor man's gold." In a market display that has left traders breathless and algorithms scrambling, the white metal is currently tearing through the history books, with Citigroup Inc. predicting the fireworks are far from over. According to the bank's latest analysis, the metal is poised to hit a record $150 an ounce within the next three months, fueled by an insatiable appetite from China that shows zero signs of abating.
The prediction comes on the heels of a January that can only be described as parabolic. Silver has already surged nearly 50 percent this month alone, behaving with a volatility that Citi analysts, including Max Layton, described as "gold squared" or even "gold on steroids." The metal isn't just tracking its yellow cousin; it is outrunning it. On Monday, prices touched a fresh record of $117.71 after a staggering 14 percent intraday jump, the most dramatic single-day rise since the chaos of the 2008 global financial crisis.

