ith gold 100 times costlier, silver looks undervalued, potentially rallying 13% to this year’s highs or 60% to $50 over the next 12-18 months. Record short interest in the iShares Silver Trust (SLV) and Sprott Physical Silver Trust could fuel a short-covering rally if the historically stretched gold-silver ratio indeed favors a catch up in silver prices. Given the above, I’ve increased our firm’s silver exposure, viewing it as a potentially rare long-term opportunity.
