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High physical demand levels will push silver to $100 forecasts Eric Sprott
Posted on 08 August 2011 with 2 comments from readers
Eric Sprott is one of the biggest names in the Canadian resources sector. In this video he points to a fundamental disconnection between the very high demand for physical silver at the moment in comparision with the very limited supply situation.
He predicts $100-plus an ounce coming soon for silver. His fundamental view contradicts the chartists who contend that we are about to see a repeat of the 2008 collapse in the silver price as the stock market tanks.
Interestingly silver rebounded almost five per cent this morning in response to the S&P downgrade of US debt, the reverse of the chartist’s expectations.
2 Comments posted by readers:
Buy Silver. This is great a must watch video.
http://www.youtube.com/watch?v=eJlzhnZMChY&feature=player_embedded#at=101
I do like James Turk’s slightly shy way of interviewing others. So different from Bloomberg and their beauties!
Good to see GoldMoney highlighted on ArabianMoney like this. I’ve been with GoldMoney for about 3 years now and am very pleased that I can buy “tons” of bullion whenever I want without having to bury it in the garden.
Have you seen their hour by hour graphs of what’s happening to the gold and silver prices, where they compare three days of the same hours with each other? You can click to get longer time spans as well, but the hour by hour one has a thrill of the chase about it, especially at the present time.