Silver Opportunity Begins Anew
By Kevin McElroy
It’s likely, and possible, for silver to eventually make new modern-era inflation adjusted highs. According to my most conservative calculations, that would mean a silver price above about $130 an ounce – or 300% higher than current prices. That’s right, when silver makes a new inflation adjusted high, it will mean a quadruple for investors who buy today at around $25.50 an ounce.
What about a non-modern era inflation adjusted high? For a pie in the sky number, the all-time high for silver was reached in 1477.
In 1477, it’s estimated that the price of silver reached the equivalent of $1,055 an ounce in 2010 dollars.
- Resource Prospector, November 2010
….I still believe we’ll breach new record highs in silver – and I stand by my prediction of $130 an ounce or so.
I’m still buying physical silver, as well (and you’ll be the first to know when I stop buying and start selling).
And hopefully you’re well aware of the main reason that I prefer to buy physical silver – but here it is again:
I buy physical silver (and gold) to protect some portion of my cash savings from the likelihood of currency crisis and inflation. I don’t have the expectation of getting rich from my physical silver and gold holdings – but I expect my holdings will be safe from government fiat.