Citi(US:C) Zhi Tong Cai Jing·2026-01-08 22:25Group 1 - The core viewpoint of the articles highlights significant selling pressure on silver due to the upcoming annual rebalancing of commodity indices, with expectations of passive selling of silver futures worth billions of dollars [1][2] - Silver experienced a sharp decline, dropping 5.5% in one session after a nearly 4% drop the previous day, while gold remained relatively stable [1] - Citigroup estimates that approximately $6.8 billion in silver futures may be sold to meet index adjustment requirements, representing about 12% of the open interest in COMEX silver futures [1] Group 2 - Analysts express a generally optimistic long-term outlook for gold, despite short-term pressures, with expectations that gold could rise to $5,000 per ounce by mid-2026 due to geopolitical risks and fiscal deficits [2] - The World Gold Council reported that central banks collectively net purchased 45 tons of gold in November, with the People's Bank of China increasing its gold holdings for 14 consecutive months, providing crucial support for gold prices [2] - Silver's price surge last year was notably strong, with an annual increase of nearly 150%, driven by tight supply in the London spot market and tariff concerns limiting metal flows from high U.S. inventories [3]