Leeb: “The silver bulls have really been hit hard. I understand how they must feel looking at silver trading not much above $20 an ounce. But silver is going to be powered by two things: One is its industrial demand, which is going to get an even larger push from solar voltaic technology and demand.
In fact, I think in the next 3 or 4 years the biggest demand for silver will be in the energy market, even though investment demand will remain strong. Silver was a currency before gold. It’s easy for the common person to carry around silver as coinage. Gold is too expensive to be practical, especially if I’m right that the gold price is going up 10-fold.
So silver is going to have a role as a monetary metal, and it’s also going to continue to have a major, major role as an industrial metal. If gold is going to go up 10-fold (above $13,000), silver will go up at least 15-fold ($330). The silver bulls just need to hang in there and continue accumulating.
Read the complete article at King World News here.
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