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Citi favours precious metals over base metals

Citi has updated its commodity forecasts for the last part of 2022 and the first half of 2023.

Citi favours precious metals over base metals Citi favours precious metals over base metals Citi favours precious metals over base metals Citi favours precious metals over base metals Citi favours precious metals over base metals

Image: iStock/Oselote

Analysts from the investment bank are bearish on copper, downgrading their three-month forecast price from US$7500 per t (which is around current levels) to just $6200/t or $2.80 per pound.

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