Kitco News and Pimpy Saturday PM 10-31-2020
$100 silver price: when and why we will see it – David Morgan
Kitco News: Oct 26, 2020
Gold and silver have always held a close correlation with each other, with silver usually outperforming gold in bull markets, as it did this year.
Assuming a $4,000 gold price target in two to three years’ time, which is roughly a 100% increase from current levels, and assuming a normalization of the gold-silver ratio to 40-1, then silver should be trading at $100 by the time gold doubles in value, said David Morgan of TheMorganReport.com.
“The last time we had that run in silver in 2011, we’ll look at something similar, so at that time it got to about 33 to 1, so if we $4,000 gold and we use a ratio of 40 to 1, that says $100 silver. Is that out of the question? I don’t think so.
I actually forecasted that price back in 2003 when silver was under $5, so I think we’ll see that,” Morgan said. “I’m not saying next year, but we’ll see that.”
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