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Silver is a calculated steel, as well as with installing commercial need it's just a matter of time prior to previous all-time highs are satisfied, and after that a new push to triple digits gets on the method, claimed Keith Neumeyer, Chief Executive Officer of First Majestic Silver.
" Silver is the only asset that is not reaching its [historic] highs, and also it has actually gotten to [those highs] on 2 separate events, back in 1980 and 2011. I believe we're visiting that high breached in the cycle, and when it does, it's going to awaken the marketplace. Once it breaks through the $50 level, I believe that it's going to get as much as the $100 level rather rapidly," Neumeyer told David Lin, support for Kitco Information.
On the data launched by the Silver Institute that reported that 2020 saw the greatest surplus in the silver market on document, Neumeyer tested the collection method.
" I assume these numbers are composed," he stated. "I would not trust them in all."
0:00 – Initial Majestic Silver: company news & efficiency
5:18 – Silver rate efficiency
8:45 – Triple-digit silver price
12:33 – Silver Institute supply/demand information
19:14 – Silver deficiency as well as cost
22:29 – How much silver to get to move price?
24:09 – Lack of silver physical bars and coins
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$100 silver price target; Keith Neumeyer challenges market surplus data
Silver is a strategic metal, and with mounting industrial demand it’s only a matter of time before previous all-time highs are met, and then a new push to triple digits is on the way, said Keith Neumeyer, CEO of First Majestic Silver.
“Silver is the only commodity that is not reaching its [historic] highs, and it has reached [those highs] on two separate occasions, back in 1980 and 2011. I think we’re going to see that high breached in the cycle, and when it does, it’s going to wake up the market. Once it breaks through the $50 level, I think that it’s going to get up to the $100 level pretty quickly,” Neumeyer told David Lin, anchor for Kitco News.
On the data released by the Silver Institute that reported that 2020 saw the biggest surplus in the silver market on record, Neumeyer challenged the collection methodology.
“I think these numbers are made up,” he said. “I wouldn’t trust them at all.”
0:00 - First Majestic Silver: company news & performance
5:18 - Silver price performance
8:45 - Triple-digit silver price
12:33 - Silver Institute supply/demand data
19:14 - Silver deficit and price
22:29 - How much silver to buy to move price?
24:09 - Shortage of silver physical bars and coins
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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