"Gold on Steroids": Silver Targets $150 as Retail Mania Shifts from Nvidia to Metals

London/New York — Silver prices are undergoing a historic repricing, driven by a perfect storm of industrial demand, Chinese retail speculation, and a breakdown in faith in fiat currencies. Citigroup has dramatically upgraded its 0-3 month forecast, projecting the metal could hit $150 per ounce.

The Retail Rotation

Market data indicates a massive behavioral shift among retail investors. Capital flows that previously chased AI darlings like Nvidia (NVDA) are now flooding into commodities.

• iShares Silver Trust (SLV): Recorded a net inflow of $171 million on Monday alone, double the volume seen during the 2021 “Silver Squeeze.”
• Turnover Rates: Silver's trading turnover has hit 11.5x normal levels, dwarfing Nvidias 7.5x, signaling that the speculative heat has firmly migrated to hard assets.

The “China Bid”

Unlike previous rallies, this move is structurally supported by physical demand from Asia.

Citigroup's “Blue Sky” Scenario

In a note to clients, Citigroup analysts stated, “Silver is no longer just Golds shadow; it is Gold on steroids.” The bank argues that with the Gold-to-Silver ratio potentially compressing toward historical norms (approx. 32x), silver has massive asymmetrical upside compared to gold, even as gold itself breaches the $5,200 barrier.

Risks: The parabolic nature of the ascent suggests extreme volatility. However, with the USD weakening and geopolitical risks escalating, the “buy the dip” mentality remains the dominant market regime.