We have a financial system that’s on the edge of a cliff here. People have to be in precious metals if they want to protect themselves. Everyone who’s an investor has money. They have it invested in some paper instrument and when they realise they have a problem with their money in a bank or owning some government note the demand for gold could just be overwhelming! It could be parabolic all of a sudden. Currently, only 0.75% of the world’s financial assets are in gold so just imagine what a 5% to 10% interest in gold would mean for its price. On top of that, I believe that silver will get back into a 16:1 ratio to gold in three to five years for sure so that means that silver is going to have a great upside potential. Got gold? Better yet, got silver?
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Wednesday, September 7, 2011
Ben Davies - Silver Headed to $65 & Gold to Soar [kingworldnews September 6, 2011]
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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