Silver Price Eclipses $36, $50 Ahead?
SILVER PRICE NEWS – The silver price climbed as much as $1.42, or 4.0%, to $36.745 per ounce Monday morning amid another record-setting day for precious metals. The rally in the silver price, which has been fast and furious in recent weeks, sent the price of silver to yet another new 31-year high.With today’s advance, the silver price is now higher by $5.80, or 18.7%, year-to-date.
Commenting on the outlook for silver, Silver Wheaton’s CEO, Peter Barnes, stated in a CNBC interview that he sees the silver price reaching $50 per ounce in the next two to three years, but that it also could happen sooner. Furthermore, Barnes predicted the price of silver will be “extremely high” over at least the next three to five years.
Over the past three decades, the silver price has not been anywhere near its all-time record high of $50, reached in 1980 as the Hunt Brothers tried to corner the market.
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