The Phaserl


Forget Gold — Silver is on Fire and Could Hit $25 an Ounce by the End of 2016

Silver has seen double the percentage gain of gold since Brexit

by Myra P. Saefong, Market Watch:

Silver has outshined its sister metal since the U.K.’s decision to leave the European Union sparked turmoil in global equities markets, and the rally could lift the white metal to a three-year high.

Gold and silver futures recently reached their highest levels in about 2 years. On Wednesday, gold futures GCQ6, -0.17% settled at $1,367.10 an ounce, marking their highest finish since March 2014, while silver futures SIU6, -0.27% hit a 23-month high of $20.203 an ounce. Prices for both eased back a bit Thursday, with silver booking its first decline in seven sessions.

But silver prices are still set to surpass some analysts’ $21 to $22 predictions from analysts’ $21 to $22 predictions from earlier this year and talk of $25, $27, and even $32 an ounce have emerged. Those levels would take prices to their highest since at least 2013.

Like gold, silver’s climb isn’t just about Brexit, or the U.K.’s EU exit.

Like gold, silver’s climb isn’t just about Brexit, or the U.K.’s EU exit.

Read: Why gold may hit $1,500 by year’s end—and it’s not just about Brexit

Most analysts agree that the vote provided the spark for the precious-metal rally, but it isn’t the genuine impetus.

Brexit is a “symptom” of the European Central Bank’s “failure to stimulate” the EU’s economy via money printing,” said Michael Armbruster, principal and co-founder at Altavest. The bull market in gold and silver is really “all about negative real interest rates, currency market volatility and failed central-bank policy world-wide.”

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