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Tanzanian Royalty Exploration Corp. Message Board

  • dear_stormy dear_stormy Feb 13, 2013 12:26 AM Flag

    Eric Sprott: On Silver

    Eric King: “Eric, we have to bring up silver as well for the silver bulls. Your thoughts on that market?”

    Sprott: “I’m quite impressed by the (US) Mint sales in January, even though they only sold it for about half the month. It’s obvious from all of the discussions here from various coin dealers that demand is very brisk.

    The beauty of silver of course is there is not much inventory in the world. The buying at the Mint, as a proxy, suggests that people are putting as many dollars into silver as they are putting into gold. So they are buying 50 times more silver than gold.

    The piece we did a couple of months ago suggested that for investment purposes you can only buy about 3 times more physical silver than gold. Well, if you are buying it at 50 to 1, and I see it in our Trust issues that we have, we’re buying 50 times more silver which is an absolute impossibility (to sustain), I think silver will by far outperform gold. And needless to say I’m incredibly bullish on gold, so I’m sure we’ll be seeing $100 and $200 prices for silver.”

    Sentiment: Sell

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