Make Kitco Your Homepage

Silver prices headed to $25 as 'worthless' central banks manipulate currencies

Kitco News

Gold and silver prices' upwards trajectory looks promising as long as central banks around the world continue to provide accommodative monetary policy; gold is headed to new all-time highs while silver has 30% more room to grow within a year, according to Todd Horwitz of

"Silver also looks great. I would expect silver to make a run at $25 before it's all over," he said. "$25 silver is certainly in play in the next six, seven months if we continue at this pace, because remember, there's always going to be pullbacks...but as long as we see this manipulation of currency, people are going to be looking for metals."

Central banks around the world are engaged in a war to the bottom, with monetary easing measures pushing down interest rates and devaluing currencies, Horwitz noted.

"The central banks continue to try to manipulate the currency, so people are afraid of the basic unstableness of currencies," he said. "The central banks around the world are trying to push the value of their own currencies lower, which should, in theory, create a better export environment."

Horwitz said that instead of letting the free markets trade, governments are forcing currencies lower, thus driving investors away from fiat money and into metals.

On the economy, we are still not yet fully recovered, but the overall sentiment has improved, Horwitz said.

"I'd say six to nine months down the road, we'll be back and fully operational, but we've now recognized that the overall panic going into it is over," he said, adding that a "political battle" has been created by this pandemic.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.