Silver price hits 6-month high on #SilverSqueeze; this is next target - Phil Streible
Silver climbs $1.64 as of the 6:00 pm EST market open on Sunday as demand surges, pushing the price to 6-month highs.
Phil Streible, chief market strategist at Blue Line Futures, said that a $40 to $50 target from here for silver is not impossible.
“What we’re seeing here is that individuals are targeting these high-beta, high-shortage products like what we saw last week with GameStop,” Streible said. “They’ve moved over to the silver market and what they’re trying to do is a short-supply squeeze and thrust prices higher.”