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$165-an-ounce silver within three years – Arabian Money
$165-an-ounce silver within three years – Arabian Money
Related: Silver to Hit High of $77 by Spring Before Correcting & Ratcheting Higher (Caution: our record with TA is not reliable!)
~~predicts Charteris fund manager
Posted on 13 November 2012
Silver prices will hit $165 an ounce within the next three years, five times the current price, predicts Charteris mixed asset fund manager Ian Williams, the latest in a string of bullish recent calls from precious metal analysts.
‘Silver is about to enter a sustained bull market that will take the price from the current level of $32 an ounce to $165 an ounce and we expect this price to be hit at the end of October 2015,’ he told The Daily Telegraph.
Technical analysis
‘This forecast is based entirely using technical and cyclical analysis and is in keeping with the mathematical form displayed so far in the bull run that has taken Silver from $8 an ounce in 2008 to its current price of $32 an ounce – having hit $50 an ounce in 2011.’
He expects silver to be considerably more volatile in price moves than gold but ultimately deliver a strong outperformance. Like many precious metal analysts he thinks the re-election of President Obama is very supportive of prices given that Ben Bernanke will continue to print money at the Fed, and has promised to keep interest rates low until at least mid-2015.
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