The head of a major silver mining company says he thinks we will see triple-digit silver prices in the near future.
Keith Neumeyer serves as CEO of First Majestic Silver Corp. The company ranks as the second largest silver producer in Mexico – the world’s leading country in silver production. Neumeyer told Bloomberg a major Japanese electronics maker approached the company last month seeking to lock in future silver stock. This is a sign that supply concerns could significantly boost the price of the white metal – perhaps as much as nine-fold:
For an electronics manufacturer to come directly to us – that tells me something is changing in the market I think we’ll see three-digit silver.’
Neumeyer said he believes the price of silver could surge to $140 per ounce as early as 2019.
This post was published at Schiffgold on MAY 27, 2016.
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