How An "Explosion" Of The Silver Price Could Take Place
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(Kitco News) -At current levels, silver is expected to “explode” if the right trigger hits the market, owing to its superior risk-return profile, said Todd Horwitz, chief market strategist of bubbatrading.com.
“I’m a buyer [of silver]. I think it’s fine and I’m willing to take it lower if it goes lower, but I do think that at one point with the ratio of 87, the one against gold right now, I think it will one time just explode and close that ratio and close that gap and I think that’s really what we’re looking for,” Horwitz told Kitco News.
On gold, Horwitz remains constructive and maintains his $1,400 an ounce call, but said key support levels need to be held first.
“If we break down below $1,280 [an ounce] I think there’s trouble. If we hold in these levels and consolidate of a week or two, then maybe the bottoms are in,” he said.