Silver is about to play catch up to gold and make up for lost time.
March 26 (King World News) – Eric King: “Peter, you are bullish on silver. That metal when it unleashes is so wild because it can double in the blink of an eye, right? Silver can be trading where it is today and then all of the sudden it is trading close to $50 and it seems like it happened overnight. What do you see that is going to unleash the price of silver?”
Silver Cheap: 50% Below Its All-Time High
Peter Boockvar: “So silver is one of the rare commodities/currencies, well let’s call it a commodity for now, that is about 50% below its $50 high in 2011 and it spike peak in 1980. That’s unusual (in today’s environment where virtually all commodities are skyrocketing). And that is with gold just off record highs.
Even if the Fed gets the Fed funds rate to 2.5% by the end of the year, real interest rates would still be deeply negative. That is a big bull case for gold and silver, but there’s a new bullish reason to own hard assets like silver and gold and that’s the sanctioning of the Russian Central Bank and the confiscation of a large part of their assets, hindering their ability to maneuver. And when you have gold (or silver) stored on your own property in your own vault, there’s no better asset because there is no counterparty risk.
So I would think central banks around the world that have a lot of dollars and euros may be thinking of buying some gold and storing it in their own country. That will be seen as a good place for foreign currency reserves that can’t be touched (confiscated) by anyone else. But specifically with regards to silver it’s going to make up for some lost time and play catch up (to gold) being so…to continue listening to Peter Boockvar discuss the bullish case for gold and silver as well as other major markets in this remarkable audio interview CLICK HERE OR ON THE IMAGE BELOW.
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