Precious metals could see more downside before a bounce to a recovery, says Erif Fier CEO of SilverCrest Metals.
"I think we can expect to see more pain that needs to come," Fier told Kitco News on the sidelines of the Denver Gold Forum.
On silver, Fier said that a gold-silver ratio of 70 needs to be met before a rally occurs. The ratio has hit highs of 85 recently.
Denver Gold ForumNow in its 29th year, the Denver Gold Forum (DGF) is the world’s oldest and largest gathering of precious commodity equities. Presented every year since 1989, it now showcases seven-eighths of the world’s publicly traded gold and silver companies when measured by production or reserves.
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