Silver Price At $250-$500 Is 'Entirely Possible'

Above, silver Franklin Half Dollars. Photo by Armand Vaquer.

According to silver's COMEX spot price, it is currently hovering around $32-33/toz.  

There are some who believe that the precious metal could zoom up to $250-500/toz. by the end of the year. That would be interesting to see for those of us who bought silver when it was down into the $20s.

According to an article KITCO News:

(Kitco News) - Silver prices have been manipulated for the past five decades, and a breakout with a price target of $250-$500 is "entirely possible," according to renowned investor and industry titan Eric Sprott, Chief Executive Officer, Eric Sprott Family Office. 

Sprott is predicting a significant price increase due to a technical deficit where consumption exceeds mining production. "Silver is going to skyrocket," he told Kitco Mining on the sidelines of PDAC in Toronto, citing Michael Oliver's target of $250 and Don Durrett's target of $500. 

"I can see both being entirely possible here because I know the targets on gold were like $8,000 to $10,000. Silver used to trade at 15-to-1 to gold," Sprott said.  

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