Silver Due For 40% Upside From Here – Fund Manager
(Kitco News) - The gold-silver ratio implies that silver has a lot of upside potential, this according to d Egilinsky, Managing Director and Head of Alternative Investments at Direxion.
“[The gold-silver ratio is] in the 90’s still, historically, they’ve been in the mid-60’s. What does that say? If gold stayed right where it is right now, silver’s probably due for a 30 to 40 percent upside move from here,” he said.
On the economy, data is pointing towards an equities correction in the near future, said Egilinsky.
“The bond market is a leading indicator and it’s telling you that there could be rougher times ahead for the equities markets as we move forward throughout the year,” Egilinsky told Kitco News.
The global economy is also slowing down, as indicated by several foreign indicators, he noted.
“Certainly, the global economic data that we’re seeing, particularly in China, as well as in developed Europe, would lead you to believe that the economy is softening pretty significantly,” Egilinsky said.