RJO’S STREIBLE: SILVER WILL BE #1 COMMODITY PICK OF 2013, SHORT COVERING RALLY WILL SEE PRICES EXPLODE!
DECEMBER 26, 2012
RJ O’brien Senior Commodities Broker Phil Streible was on Bloomberg this morning, and when asked by the host for his #1 commodities pick for 2013, Streible responded: Silver!
Streible stated that: The Fed will continue to buy mortgage backed securities and treasuries, causing the Fed’s balance sheet to expand from $2.9 Trillion to $4 Trillion by the end of the year.
The Bloomberg host then asked Streible why then wouldn’t he buy gold rather than silver?
Streible responded: Ultimately the Fiscal Cliff issues will be resolved, silver prices have been beat up recently, we’ve seen a 10% decline in the last week, and I think that a snap-back short covering rally will occur, and prices will explode!