Citi Research January 26, 2026 January 2026 Update Metals Outlook Global Commodities Maximilian LaytonAC Global Head | Commodities max.layton@citi.com +44 20 7986 4556 1. Gold and silver outlook and corporate hedging considerations – insurance recommended in precious metals 2 Gold and silver prices and miner margins are astonishingly high Tom MulqueenAC Metals Strategy tom.mulqueen@citi.com +44 20 7986 4559 Wenyu YaoAC Metals Strategy wenyu.yao@citi.com +44 20 7986 4551 Kenny Hu, CFAAC Commodities Strategy ...