11/12/2022 0 Comments Silver to skyrocketReproduction, in whole or in part, is authorized as long as it includes all the text hyperlinks and a link back to the original source. Technology will skyrocket around the world, and silver demand with it A decline in supply with an increase in demand should cause prices to soar. The physical market looks like it’s gearing up to dethrone the « paper » market in determining the metals’ prices. The speed at which silver is going up since the end of August seems to confirm his analysis. If you’ve been following the charts since mid-August, it will seem clear to you that all of the « correction » movements are now being replaced by massive buying of physical gold and silver, which should entail shorter movements and less of those in the months to come.Īnd finally, as predicted by GATA’s Bill Murphy last July, it would seem that JP Morgan might be experiencing big difficulties covering their immense short position in silver. If inflation continues to rise and reaches double-digit values through 20, the price of 100 an ounce for silver could be possible. Let’s remind ourselves that in one month only the gold price has progressed by 7,73% and the silver price by 19,75% (in US dollars). The announcement yesterday by Mario Draghi, president of the European central bank, of a new plan for buying back government debts might also help explain the behavior of gold and silver these last two days, because these metals usually react strongly to inflationary policies. The US unemployment numbers for August 2012 are not as good as anticipated, effectively paving the way for Ben Bernanke to announce a new round of « quantitative easing », or QE3, next Thursday, September 13. To find out Krauth’s short-term silver price predictions, and his views on cryptocurrencies, watch the above video.One didn’t have to wait but a few minutes after the publication of the August employment data in the USA this afternoon at 2:35 PM to see the price of gold and silver skyrocket, breaking all resistance levels. And you’ve got the In Gold We Trust report, which forecasts a relatively easy forecast close to $5,000.” “You’ve got people like Jim Rickards, Shayne Maguire, who ran a gold fund for the Texas teacher’s retirement system, and you’ve got Scott Minerd of Guggenheim. “I’m not the only one who think that gold will go to $5,000 or even perhaps $10,000 in a speculative mania,” he explained. He added that he’s not the only one who predicts a gold price of at least $5,000. And the odds are that will be significantly higher than what we’ve been experiencing over the past 10 to 15 years.” “My thesis is that if you look at what’s happening with inflation, and if you look at how other assets are hurting,” he said, “then in fact, since the start of the year, gold is essentially flat… The odds are based on the rise in inflation and the growth in the money supply. This is due to gold’s use as an inflation hedge. Gains of closer to +10 have been the norm the last 20 years. In his book, Krauth has a model which forecasts that gold’s price will rise to $5,000 by 2030, which would drag silver’s price up to $300. Silver has performed even better measured from December to the end of February. Krauth agreed that the ratio could go as low as 9, since there are 9 ounces of silver mined for every ounce of extracted gold.Īs of this article’s writing, the price of gold is $1,850 and silver’s price is $21.75, implying a gold-silver ratio above 80. And in a speculative mania, I don’t see why it wouldn’t go back down to 15.” So, the odds are that the ratio will come back down to at least 55 to 60. So we’re already considerably above the average… If you look at how it has behaved, that’s a strong indicator of where silver is likely to trade relative to gold. “If you look over the past 20 to 30 years, it has averaged about 55 to 60. This “indicates the potential” for silver prices to rise higher. Among other factors, he examined the gold-silver price ratio, and found that it is above its historic mean. In his book, “The Great Silver Bull,” Krauth derived a valuation of $300 silver through technical analysis. Krauth discussed his predictions with David Lin, Anchor and Producer at Kitco News, at the PDAC 2022 Conference in Toronto. Due to industrial demand and a shrinking supply, silver’s price will rise to $300, said Peter Krauth, Author of “The Great Silver Bull” and Editor of The Silver Stock Investor online.
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