Economist and gold advocate Peter Schiff has been vocal about urging investors to buy silver, emphasizing its strong performance and potential for significant gains. In a recent post on social media platform X, Schiff highlighted the promising outlook for silver, stating, “Silver is really strong … An explosive move higher seems likely soon.” He noted that silver’s price had already risen over 40 cents in early morning trading, comfortably returning above $31.
This isn’t the first time Schiff has fervently encouraged the purchase of silver. On July 3, he predicted that both gold and silver are poised to break out while Bitcoin is set to decline. Earlier, on June 20, he reminded investors of silver’s historical highs, stating: “Remember silver traded as high as $50 in 2011 and in 1980. Soon $50 will be the floor on silver, not the ceiling.”
Schiff’s optimistic view on silver is shared by several other experts. Bank of America has recently forecasted a bullish trend for silver, anticipating price increases through the latter half of 2024 into 2025. This positive outlook is driven by expectations of a halt in central bank interest rate hikes and increased investment in precious metals. Silver market analyst Peter Krauth, author of “The Great Silver Bull,” predicts an impending silver shortage due to rising demand for the metal in various applications.
Adding to the chorus of silver advocates is Robert Kiyosaki, author of the best-selling book “Rich Dad Poor Dad.” Kiyosaki often recommends investments in gold, silver, and Bitcoin. Last August, he urged investors to buy silver before supply runs out. He believes that if the global economy crashes, the price of silver could skyrocket to $60,000.
These predictions paint a promising future for silver, against a backdrop of economic uncertainties and shifting investment strategies.
