Silver Will ‘Run Like Crazy’ in ‘Free Market’

Posted by on February 21st 2012 in Bailout, China, Federal Reserve, General Economy, Gold, India, Monetary Policy, Short Sellers, Silver, Wall Street, Warren Buffett | Be the first to comment!

Greg McCoach, who publishes the Mining Speculator newsletter, thinks that gold could hit $2,500 to $3,000 this year “depending on how much QE3 is injected into the system,” but he sees even more of a potential “explosive upside in silver,” laying out his rationale in an interview with The Gold Report:

“When you understand how tight the silver market is right now, and all the game-playing that’s been going on and the monster short position that exists, there’s not enough physical metal in the world to cover this. There’s such a total disconnect in that market that, at some point, when it is allowed to become a free market, I think silver’s going to run like crazy and I see that coming very soon … Silver could easily see $70, $75, even $80/oz if these events occur this year as I expect.”

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