Chris Marcus: I’ll be stunned if silver costs about $ 25 in a year | INN


Chris Marcus: I’ll be stunned if silver is still at $ 25 a year from now

Youtube

The year 2021 began on a strong note for silver, which enjoyed widespread attention and a surge in price when the narrative “Silver Squeeze” hit the headlines of the mainstream media.

What has changed? Speaking to the Investing News Network, Chris Marcus, founder of Arcadia Economics, said that while it turned out to be a historic year for silver, market manipulation has prevented further moves.

Marcus, who is also the author of The Big Silver Short, referred to comments from Jeff Currie of investment bank Goldman Sachs (NYSE: GS) and Rostin Behnam of the Commodity Futures Trading Commission (CFTC) and said they show how Policies were used to push the price of white metal down.


“I know this is a bit of a shock to people to hear, (although) some have long known as Bart Chilton, the former CFTC commissioner, made it pretty clear,” he said.

“When you’ve … bought all of this metal and the price goes down, people ask, ‘Well this doesn’t match, it seems like something is broken,'” added Marcus. “It’s very similar to the end of ‘The Big Short’ … (but) instead of defaulting mortgages, the paper silver market is already down.”

When asked about sentiment among silver investors, he said it could be difficult to remain optimistic.

“It’s hard to live in a world where there is so much corruption,” said Marcus. “I think this is the part that is difficult for many – I think even the seasoned gold and silver guys are (at the point) where it is almost difficult for them to get hopes and imagine that (market manipulation) could come to an end. “

Even so, he looks positive in 2022 and said he would be “stunned” if the precious metal were still around $ 25 an ounce around this time next year.

“Perhaps one particular marker to look for – I think you’ll see the forces are doing whatever it takes to keep silver below $ 30. If you see silver above $ 30 for a couple of days – say you see silver above $ 30 on a Thursday and to $ 31 or $ 32 on Friday, and it’s still 30 on Monday U.S. dollar. I imagine it might as well be $ 50 at this point, “said Marcus, adding that the situation is essentially the opposite of the mortgage bubble.

“Once (silver) goes through that break point, when you see it you will know, and I don’t think it will take that long for that to happen,” he concluded.

Don’t forget to follow us @INN_Ressource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, have no direct interest in any company mentioned in this article.

Editorial disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducted. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to conduct their own due diligence.



Source link

Comments are closed.