(Kitco News) - Silver prices will move higher, said Randy Smallwood, the CEO of Wheaton Precious Metals.
On Wednesday Smallwood spoke to Kitco Mining.
Wheaton Precious Metals is a top precious metals streaming company. In its Q2 released early in August, the company generated $234 million in operating cash flow, resulting in record cash flows of over $450 million for the first half of the year. 2024 production guidance is 550,000 to 620,000 gold equivalent ounces. Wheaton Precious Metals is up 29% year-to-date.
Smallwood is a fan of gold, but he feels the strongest pull from silver.
"I did spend the last three years as the chair of the World Gold Council," said Smallwood. "It didn't change my perspective that silver is my favorite metal."
Smallwood noted the metals versatility. It is a precious metal, but it is also a critical mineral used for solar panels and electronics.
"I do think we'll see a rapid move in a higher price of silver," said Smallwood. "It always outperforms."
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