Citi(US:C) Hua Er Jie Jian Wen·2026-01-14 11:53Group 1: Precious Metals Market Overview - Spot silver reached a historic high of $90.63 per ounce, marking a 4.26% increase on January 14, with a year-to-date rise of 25% [1] - Spot gold also increased, currently priced at $4637 per ounce, with ANZ Bank predicting gold prices will exceed $5000 per ounce in the second half of 2026 [3] Group 2: Price Forecasts and Influencing Factors - Citigroup raised its short-term precious metals price targets, increasing the silver price forecast from $62 to $100 per ounce, a rise of over 60%, citing geopolitical risks, physical shortages, and uncertainty regarding the Federal Reserve's independence as key drivers [4] - Following the release of the December CPI data, traders increased bets on an earlier rate cut by the Federal Reserve, raising the probability of a rate cut in April from 38% to 42%, which contributed to the surge in silver prices [7] Group 3: Industrial Metals Performance - Industrial metals, including copper and tin, have also seen significant gains, with LME copper reaching an all-time high and tin prices rising nearly 6% to $52,495, surpassing previous highs from 2022 [4] - Tin prices have surged nearly 40% last year and over 25% in 2026, driven by strong investments in artificial intelligence and data centers, indicating a bullish sentiment in the commodity market [8]