Gold recently cracked through the $1,300 resistance level. Geopolitical instability continues to push the yellow metal higher as investors seek safe haven.
But as the spotlight shines on gold, it’s important not to forget about silver. Analysis shows it may well be the bargain of the century.
As Peter Schiff said in his most recent Gold Videocast highlighting the gold breakout, ‘$1,310 is still a low price for gold relative to where it is going. And of course, silver is an even better buy.’
In fact, silver is tremendously undervalued. In July, Peter pointed out the huge spread in the silver-gold ratio, which currently stands at over 75:1. This means you can buy almost 80 ounces of silver with one ounce of gold. Consider that the historic average ratio is around 16:1.
So, the fact that you can buy 80 ounces of silver for one ounce of gold is an incredible buying opportunity. 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 AUGUST 31, 2017.