Silver could more than double to $125-$150 (C$176-C$211) per oz. within two years, outpacing gold as industrial use and investment demand grow, SCP Resource Finance chairman Peter Grosskopf said.
Silver traded near $59 an oz. Tuesday, while gold changed hands near $4,055. Gold could gain nearly half to top $6,000 over the same span, said Grosskopf, who is also a board member at Agnico Eagle Mines (TSX, NYSE: AEM).
“Gold moved first and left silver behind for a long time, and silver’s playing catch-up and now maybe going to spring ahead of gold,” he told The Northern Miner’s Western Editor, Henry Lazenby, this month at the Rule Symposium in Boca Raton, Fla. “The silver market is like a coiled spring. It’s kind of rebuilding for another leg up.”
For silver miners, a metal price surge would widen margins, lift project values and help more juniors fund mine construction. Yet the recent downturn has made investors more selective, favouring experienced teams and sound projects over weaker companies forced to offer steep discounts or warrants.
Watch the full interview below:
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