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CitiGroup: Gold to 3,500 $, Silver to 100 $

Gold and silver have been rallying due to the worsening of the Syrian conflict. Safe haven demand for precious metals has increased, especially since August 21st, we could observe a rather strong upward trend for gold, silver and oil too.

Oil is the key commodity that sees higher prices during Middle Eastern crises. And gold tends to follow oil's path.

It's not "new news" that CitiGroup's Tom Fitzpatrick has told Bloomberg he expects gold to reach 3,500 $ and silver 100 $. An article about 100 $ silver was published by Bloomberg on July 22nd and, you can read more about gold's 3,500 $ predicted level here on IBT.

Obviously, this is one of many predictions, but if the scenario proves right, silver would be a far better buy than gold (as we have gotten used to), because it could more than quadruple.
For your convenience, you should check out this guide to learn about making huge profits by investing in silver.

Although, in the mentioned Bloomberg article, we can also learn that Fitzpatrick's view on gold's and silver's future price isn't at all in line with other Citi analysts. For example, David Wilson forecasts far lower gold prices: 1,150 $ for late 2013 and 1,250 $ by 2015.

Predictions will nevertheless be often contradictory.
We can't help seeing the fact that gold was given a strong kick by the Middle Eastern geopolitical developments and, this summer's lows were by far surpassed (s)

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