Analyst: Silver Prices Could Triple

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July 14, 2016 8:11am NYSEARCA:SLV

silver pricesRespected metals and mining analyst John Embry wasn’t shy about his prediction for silver prices on Thursday, noting the precious metal could triple, quadruple, or even more in the coming months and years.

Said Embry in an interview with KWN:

“…Silver is now performing more positively, despite the best efforts of the usual suspects to suppress the price. And this is confirmed by the Open Interest being near all-time record levels, which just shows how hard they are working to keep the price at low levels.

And the absolutely spectacular performance of silver mining equities so far this year tells the real story. I firmly believe we are on the cusp of an explosion in the silver price that will ultimately see silver trade at many multiples of the current $20 price (new all-time highs). And if the hyperinflation occurs, which I believe is inevitable due to the current global monetary policy, who knows how high the price can go?”

Such a move in silver wouldn’t be unprecedented. If you adjust for inflation, silver actually hit well over $100 back in 1979:

50-year silver price (inflation adjusted)

Shares of iShares Silver Trust (ETF) (NYSE:SLV) fell $0.24 (-1.24%) in premarket trading Thursday. The shares have gained 47% year-to-date.

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