Silver prices headed to $25 as 'worthless' central banks manipulate currencies
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 BubbaTrading.com.
"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.