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Analysts at U.S. bank %Citigroup (NYSE: $C ) see the current bull market in metals broadening out to include %Copper and %Aluminum in the months ahead.

While acknowledging the big moves higher in gold and silver this year, Citigroup says that prices for copper and aluminum are likely to also rise moving forward.

"We see the gold and silver bull market broadening and eventually shifting into copper and aluminum during 2026, driven by the prospect of new dovish Fed leadership and related lower U.S. real interest rates and downward pressure on the dollar," wrote Maximilian Layton, Citigroup's global head of commodities, in a note to clients.

Layton adds that the price of gold is likely to peak at around $4,000 U.S. an ounce in the first quarter of 2026.

However, Citigroup remains "very bullish" on the price of aluminum over the next six to 36 months, saying any dips would represent "strong long-term buying opportunities."

In his note to clients, Layton writes: "Aluminum is heavily exposed to AI / datacenters, humanoid / other robots given competition for power from the same future-facing sectors, which are driving aluminum demand."

As for copper, Citigroup maintains a $12,000 U.S. per ton price target on the metal over the next six to 12 months, which is 20% above current levels.

"Copper is exposed to structural energy-transition and AI trends and is leveraged to a pickup in U.S. and global growth expectations from 2026, given dovish Fed prospects and related lower U.S. real interest rates," wrote Citigroup in its assessment.

Citigroup's stock has gained 47% this year to trade at $102.68 U.S. per share.