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The solid rally in precious metals was a little bit of a shock for Very first Majestic Silver ( NYSE: AG) Chief Executive Officer Keith Neumeyer.
Neumeyer talked with Kitco on Friday at the Deutsche Goldmesse program in Frankfurt, Germany. Neumeyer commented on gold rallying strongly in November.
" The move stunned me a bit, due to the fact that the economic climate is still doing fairly well and rates of interest really have not come down," said Neumeyer.
" The metal that stunned me the most is silver. You have actually got oil at 80-plus dollars. You have actually obtained copper at $4-plus. You've obtained gas north of $5– look at all the grains. Whatever's been moving except silver," said Neumeyer. "That's the one that I assume is going to play catch-up."
0:23 Initial Majestic Silver getting Jerritt Canyon Mine
1:38 Timing silver sales initially Majestic Silver
2:31 Tax disagreement with Mexico and also First Majestic Silver
2:57 Silver and solar panel demand
4:16 Environmental assessment for First Mining Gold
5:21 Keith Neumeyer's rare-earth element outlook
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Silver is the one metal 'that is going to play catch up' - Keith Neumeyer
The strong rally in precious metals was a bit of a surprise for First Majestic Silver (NYSE: AG) CEO Keith Neumeyer.
Neumeyer spoke to Kitco on Friday at the Deutsche Goldmesse show in Frankfurt, Germany. Neumeyer commented on gold rallying strongly in November.
"The move surprised me a little bit, because the economy is still doing quite well and interest rates really haven't come down," said Neumeyer.
"The metal that surprised me the most is silver. You've got oil at 80-plus dollars. You've got copper at $4-plus. You've got natural gas north of $5--look at all the grains. Everything's been moving except silver," said Neumeyer. "That's the one that I think is going to play catch-up."
0:23 First Majestic Silver acquiring Jerritt Canyon Mine
1:38 Timing silver sales at First Majestic Silver
2:31 Tax dispute with Mexico and First Majestic Silver
2:57 Silver and solar panel demand
4:16 Environmental assessment for First Mining Gold
5:21 Keith Neumeyer's precious metal outlook
__________________________________________________________________
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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