Could silver be set to soar?
Analysts Barron’s spoke with recently think so.
An article published on the business journal’s website last week predicted the white metal will emerge as a winner for the second straight year.
With a per-ounce price of $17.41 for silver futures as of Friday, analysts say the white metal is poised for a big climb, particularly as the gold-to-silver ratio stands well above historical averages.’
Peter Schiff talked about the silver-gold ratio over the summer, noting it is historically very high. This means silver is extremely undervalued. The current silver to gold ratio stands at nearly 76:1. This means you can buy almost 76 ounces of silver with one ounce of gold. Consider the historic average ratio hovers around 16:1, and the modern average over the last century is around 40:1. As Peter said, ‘This is silver on sale.’
It’s one of the greatest silver sales of all time, relative to the price of gold.’
This post was published at Schiffgold on OCTOBER 16, 2017.