23 min listen
Why silver will shine bright in 2021
ratings:
Length:
43 minutes
Released:
Nov 27, 2020
Format:
Podcast episode
Description
The good news about the development of a vaccine is hammering gold, said Kitco editor Neils Christensen.Christensen joined Mining Audiences Manager Michael McCrae and Marcel de Groot, co-founder and president of Pathway Capital, to record Kitco Roundtable podcast on Friday.This past week Bank of America reversed its position on gold and was turning from positive to neutral. In April, the bank made a big announcement and forecasted $ 3,000-ounce gold. Christensen covered the news."One of the first things [Bank of America] said is we're abandoning $ 3,000-ounce gold, and we're now neutral, and my jaw physically dropped," said Christensen.While gold may be slipping, analysts are constructive on silver in 2021.With a pick-up in the global economy, industrial demand for silver should increase. Bank of America predicted $29 oz. CIBC sees $32 oz. As of recording this on Friday at noon, spot silver is just above $22.With a Biden administration in the White House, more investment in green tech like silver-hungry solar panels is expected.Despite gold's drop, De Groot sees the metal doing well over the long run."I'm very bullish on gold. Over the next two or three years, we might get some scary moments. I'm never too pleased about analysts jumping on or off the bandwagon. I tend to look more at the macro factors," said de Groot noting the huge rise in debt levels worldwide.Follow the panelists:Neils Christensen TwitterPaul Harris TwitterMichael McCrae Twitter
Released:
Nov 27, 2020
Format:
Podcast episode
Titles in the series (100)
Spotted! Recent junior M&A activity that could turn into a sector wave: Australian M&A is heating up amongst the early-stage development companies, which could portend bigger deals worldwide, said Peter Akerley, CEO of Erdene Resources. On Friday Akerley recorded Kitco Roundtable podcast with correspondent Paul Harris; editor Neils Christensen; and mining audiences manager, Michael McCrae. by Kitco NEWS Roundtable