Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Hi-Ho Silver! Away!

  by    0   0

There has been a lot of focus on the recent gold rally. It has even caught the attention of the mainstream. But silver has also been quietly running upward. In fact, the white metal has outperformed gold this month. While the yellow metal has gained about 8% on the month, silver is up 11%.

Yesterday (Aug. 27) gold was up $16 per ounce and closed at $1,542.50. It was the highest close in six years. But it was an even bigger day for silver. The white metal was up 53 cents and closed at $18.17.  Peter Schiff has been pounding the table on silver in recent weeks, and he talked about the big silver rally in his latest podcast.

I’ve been telling people silver is the key. It is really cheap relative to gold. In fact, it was better than 90-to-1. You needed more than 90 ounces of silver to buy a single ounce of gold. That was an all-time record low for the price of silver. Now we’re at 85. The ratio has moved back in silver’s favor. But you still need 85 ounces of silver to buy one ounce of gold. That is historically extremely cheap.”

Peter said SchiffGold precious metals specialists have been calling clients and recommending that they sell their gold and buy silver because you can get so much silver for an ounce of gold.

It is a real bargain right now. Silver has never been this cheap and so if you have gold and don’t have any silver, it makes sense to buy some silver with your gold. And even after today’s move, I would still say that trade makes sense.”

Peter said if you’re bullish on gold, you should be bullish on silver as well. As you might recall, when silver really started to turn around last month Peter said that we have all the elements in place for a gold bull market.

We had the mining stocks outperforming the metal and then we had silver outperforming gold, and that is what always happens in a bull market. The stocks lead the metal and silver leads gold. In the bear market, silver was way underperforming gold. We now are in a bull market.”

Peter said the problem is a lot of investors don’t realize we’re in a bull market. Gold and silver sales at SchiffGold are still about 70 to 80% below where they were before Trump won the 2016 election. And some of SchiffGold’s competitors are faring even worse.

People are not buying gold and silver — at least not in the United States.”

Consider this, gold prices bottomed at $1,050 at the end of 2015. We’re up nearly $500 from that level today. And yet Americans still aren’t buying?

I don’t think you’re going to see the public moving into gold until it’s over $2,000 an ounce. And it’s going to get there. No question about it. It’s going to get there.”

Peter said the high in silver was close to $50. That was when gold hit $1,900. Peter said that if silver gets about $20 — and we’re close to that level now — it could quickly move to $50. Granted, it’s hard to make price predictions, but the dynamics are certainly in place.

Demand for silver was up last year and supply fell for the third straight year. And it appears silver mine production is continuing to fall. As we reported earlier this week, mine output fell significantly in three of the world’s top silver-producing countries through the first half of the year.

If you adjust silver’s $49 high for inflation, you’re looking at a price of around $150 per ounce. In other words, silver has a long way to run up. As one analyst put it, “With the long-term downside potential of silver very low versus its current valuation, the risk/reward is one of the best investments on the planet.”

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Peter Schiff: Printing Money Is Not the Cure for Cononavirus

In his most recent podcast, Peter Schiff talked about coronavirus and the impact that it is having on the markets. Earlier this month, Peter said he thought the virus was just an excuse for stock market woes. At the time he believed the market was poised to fall anyway. But as it turns out, coronavirus […]

READ MORE →

Peter Schiff: Coronavirus Is Just an Excuse for Stock Market Woes

The Dow Jones fell 603 points on Friday and was down about 1% through the first month of 2020. As Peter Schiff pointed out on his latest podcast, if the old saying “so goes January, so goes the year” turns out to be the case, 2020 could longest bull market in history could be at […]

READ MORE →

Peter Schiff: Greatest Economy in American History? Nonsense!

Donald Trump was in Davos talking up the US economy in his typically hyperbolic terms. He called it “the greatest economy we’ve ever had in the history of our country.” To hear the president tell it, you would think that America is experiencing some kind of economic boom that has never been experienced by anybody […]

READ MORE →

Peter Schiff: The Art of the Fake Trade Deal

Donald Trump and Chinese Vice Premier Liu signed the Phase 1 trade deal on Wednesday. The mainstream was generally bullish on the news, but there was some underlying concern because the deal did not bring substantive tariff relief. Peter Schiff broke down the deal in his latest podcast, saying that despite all the hype, the […]

READ MORE →

Peter Schiff: War Is Off But Risk Is On

In his latest podcast, Peter talks about sudden silencing of the war drums, the risk that remains in the markets, the stealth bull market in gold, the risk of a socialist president, rampant economic illiteracy, inflation and more. As Peter put it – what a difference 48 hours makes.

READ MORE →

Comments are closed.

Call Now