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Group 1 - Citigroup has significantly raised its silver price forecast, expecting silver to exceed $40 per ounce in the coming months due to tightening physical supply and increasing investment demand [1] - The three-month target price for silver has been increased from $38 to $40, and the six to twelve-month target price has been raised to $43 [1] - Analysts predict that silver supply will further tighten amid several years of supply deficits [1] Group 2 - In contrast to silver, Citigroup maintains its unchanged forecast for gold, reiterating that a peak may have already been reached, with expectations that gold prices will fall below $3,000 next year [1][6] - Precious metals have performed strongly this year, with gold reaching an all-time high and increasing by over 25%, while silver has seen a year-to-date increase of 31% [1] - The fundamental supply-demand dynamics support the bullish outlook for silver, with expectations of tighter supply due to previous deficits and strong investment demand [6]