Silver Prices to Soar, Like Gold on Steroids!
May 14, 2013
It’s hard not to get a bit nostalgic about silver prices.
I find myself reminiscing about April 2011 when the white metal ended the month at a sterling $48.70 an ounce after hitting an all-time intraday high of $49.51. That record surpassed the previous high of $49.45 set three decades earlier when the Texan Hunt brothers set out to corner the silver market.
Since the 2011 peak, the S&P has roared higher by some 50%, while the value of silver has tumbled 53%. That’s not nearly as bad as the drop silver experienced between its Hunt brothers induced high on Jan 1, 1980 through its low on June 21, 1982, when silver fell a devastating 90%.
Those declines are a reminder of just how volatile the metal’s price can be. But with great risk comes great reward, and we see record-breaking gains ahead…
Silver Prices “Like Gold on Steroids”