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

Peter Schiff: This Is an Incredibly Good Opportunity to Buy Silver

  by    0   1

The silver-gold ratio has been way out of whack for months. In recent weeks, it has been above 90-1 and approached 93-1. The modern average over the last century is around 40:1. This tells us that silver is significantly undervalued compared to gold.

Peter Schiff has described this as silver on sale.

Silver has never been this cheap in terms of gold … Meaning that it’s a great time to be buying silver.”

Peter talked about the silver market in his most recent podcast. Could the white metal be joining gold’s party?

Gold was down about $8 on Tuesday as the dollar got a boost thanks to the stronger than expected retail sales numbers. But silver was up about 19 cents. This isn’t a huge rise, but it drove a bigger increase in silver stocks. Some were up by as much as 10%.

So, not only did silver have a relatively large move – although not large enough to normally cause a silver stock to rise by 10% – but what was significant about it is it rose as the price of gold was falling.”

Peter said he saw some technical signs last week that silver was about to break out and he added to his own silver stocks. Silver’s rise yesterday, even as gold fell, could be a sign that silver is going to start closing this abnormal silver-gold ratio.

As of Wednesday morning (July 17), the ratio was at 89.4-1.

This is still an incredibly good opportunity to buy physical silver, to buy silver-oriented stocks.”

Peter said this also indicates to him that the bull market in gold is about to kick into a higher gear.

One of the aspects of the bull market that hadn’t kicked in was silver. You see, normally in a bull market in gold, silver outperforms. I mean, it happens in every bull market, but it hasn’t happened yet. And what I’ve been saying is the reason for this is I think a lot of investors were still very skeptical that we were in a bull market. They were concerned that the breakout was going to be false. They didn’t believe it, so they were not really buying silver.”

Peter said the thinks some investors were hedging their long golds by being short silver. He said he thinks there’s been a lot of spread trading and perhaps the rise in silver Tuesday was driven by investors covering that trade.

I think this is a bullish development for both gold and silver. And it shows that more people are beginning to embrace this bull market and want to get on board in the bull market and want to have more exposure to silver. Because if we’re going to go to a new high in gold, if gold is going to take out $1,900, which I believe it is, silver should outperform.”

If you look at how cheap silver is compared to gold, the upside has probably never been this great.

In this podcast, Peter also talks about the proposed Facebook cryptocurrency Libra and why American politicians seem to be freaking out about it.

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: Bernie Madoff Could Have Been Fed Chair or Treasury Secretary

When Federal Reserve Chairman Jerome Powell appeared on 60 Minutes recently, he was asked what it takes to become the head of the central bank. In a clip from podcast episode 679, Peter Schiff said that when you think about the actual qualification, Bernie Madoff would have made the perfect Fed chairman. Or perhaps the […]

READ MORE →

Peter Schiff: Inflation Coming in Hot

Federal Reserve Chairman Jerome Powell keeps telling us not to worry about rising prices, assuring us that any increase in price inflation is “transitory.” It appears most of the mainstream is buying this hook line and sinker. The March CPI number was expected to come in hot due to a much lower baseline. Prices tanked […]

READ MORE →

Peter Schiff: Jerome Powell Making Promises the Fed Can’t Keep

Jerome Powell was on 60 Minutes Sunday to reassure us that everything is great and the economy is in fine shape thanks to the Fed. He went on to guarantee the Fed’s indefinite economic support while downplaying inflation. Powell made a lot of promises, but as Peter Schiff breaks it down in his podcast, it […]

READ MORE →

Peter Schiff: Biden and Yellen Want to Lead the World to Less Freedom

Janet Yellen gave her first speech as Treasury secretary this week and called on the world to adopt a global minimum corporate tax. Peter Schiff talked about it during a recent podcast. He said Yellen’s message to the world reflects a major shift. America once led the world toward freedom. Now the goal seems to […]

READ MORE →

Peter Schiff: This Jobs Report Does Not Reflect “Job Creation”

The economy is recovering quickly! Just look at the rebounding jobs market. But in a recent podcast, Peter Schiff poured cold water on the notion that falling unemployment is necessarily a sign of an impending economic boom. After all, people going back to work do not reflect actual job creation.

READ MORE →

Comments are closed.

Call Now