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The price of silver could possibly surge to $40 an ounce by mid 2022, James Anderson, CEO and Chairman of Guanajuato Silver Company predicts. But Silver has continued to underperform 2021 estimates, currently hovering at about $23 an ounce.
Anderson explained why he is so bullish on silver. “If we have a weak economy coupled with a drive towards needing and using more silver, you’re going to have base metal mines shutting down that produce silver as by-product, just as an enormous demand for silver comes to the fore,” he said. “In that environment, you could easily see silver go to the $40 price range. But it is more likely we will see silver at $30 before it hits $40. I can see it hitting $40 halfway through next year.”
Anderson, who is also a 20 year veteran of the financial services industry, spoke to Michelle Makori Lead Anchor and Editor-In-Chief of Kitco News. Guanajuato Silver Company (GSilver) is a Canadian based mining development company engaged in reactivating past producing silver and gold mines near Guanajuato, Mexico.
0:00 – Macroeconomic outlook
3:50 – Silver price outlook
10:35 – Energy crisis?
13:40 – Silver miners
17:20 – Silver price “manipulation”
20:55 – Silver price performance
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