Friday, October 7, 2011

Prediction: Silver $150 in 18 months—George Maniere

We should start to see a number of predictions come streaming now that the silver-shorts cartel has closed out approximately 50% of their position in the recent price 'downdraft'.

George adds a bit of history in his article so make sure you click the link to read the whole article

Silver prices may rise to $150 in 18 months

By George Maniere

As I write, Silver prices are back above $40 an ounce and that may be giving you the urge to sell.  I would advise that you don’t. This recovery is for real, and it has much further to go.

While I have a price target of $50.00 by years end, I anticipate silver prices will peak at $150 an ounce in 18 months.

Central banks around the world are pushing lax monetary policies and this leads me to conclude that prices for all commodities (gold and silver in particular) will rise.

We've already seen this happen with Gold hitting a record high $1,923.70 an ounce on Sept. 7 and when gold goes higher; its baby brother silver quickly follows.

That's reflected in something called the gold to silver ratio, which shows how many ounces of silver it takes to buy one ounce of gold. Traditionally, this ratio acts as a price barometer for the two precious metals. And if you look at it right now, it's easy to see that $150 silver isn't far off...

Read full article here

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