Top Strategist: Silver Surging To At Least $50
Should you buy silver on the pullback? According to strategist John Stephenson there’s no time like the present.
He thinks silver is on the brink of a surge. In fact, he’s calling for silver to hit new record highs - - $50 / ounce. The Fast Money traders were so intrigued by this very bold call they wanted to hear more.
In a live interview Stephenson, the author of “The Little Book Of Commodity Investing” tells the desk that his $50 prediction may be conservative. That's right, conservative.
”If you look at the ratio of silver to gold during the 1970’s (which is the last time it hit an all time) it was 16-1.” Now that ratio is even greater. “It’s currently at 50-1. That would imply silver should be at $88,” he says.
Link:
http://www.cnbc.com/id/40594774/
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