With gold and silver consolidating recent gains, today King World News interviewed John Hathaway, Senior Managing Director of the Tocqueville Gold Fund. There is a great deal of talk emerging about the strength in the silver market and the weakness of the US dollar. Regarding silver Hathaway commented, “Well it’s on fire obviously. Usually when silver does well you have a set of inflationary expectations.”
Hathaway then shocked KWN with this statement, “If we have a continuation of QE2 past June 30th, I wouldn’t be surprised to see silver in the $50, $60 an ounce territory.”
When asked would there be a waterfall decline if the US dollar were to move down and take out the 71-72 area Hathaway responded, “Yeah, I think that would be a real sign that people had given up on the dollar. The market would basically be telling you that the verdict is in and the dollar is in effect beyond redemption in terms of any sort of respectability and I think you’d see a huge move into gold at that stage.”
See interview @ ORIGINAL SOURCE
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