When asked about silver specifically Davies responded, “Silver, we actually have a sensitivity to silver at the moment, we’re quite partial to it. We think the price action has been very solid. Since the $50 level it has been acquiescing sideways, but considering the other industrial elements have done very poorly vs gold, silver has really held in well.
I really believe that we are nearing the beginning of a third wave higher. We are creating that type of pattern where we are really going to start accelerating higher over the next quarter. Silver will take out the $50 highs and will go pushing into the mid 60’s.”
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