Citigroup talks of $3,500 Gold and $100 Silver

Respected Citigroup analyst Tom Fitzpatrick believes we have seen the low for gold and silver this year, will get to $1500-1525 by the end of the year, and expects silver to outperform as the gold to silver ratio drops from its current high 58:1.  He also had this to say:

“So we believe we are back into that track where gold is the hard currency of choice, and we expect for this trend to accelerate going forward. We still believe that in the next couple of years we will be looking at a gold price of around $US3,500.“

“As the gold/silver ratio plummets near 30, this would also suggest a silver price above $US100.”