There is a serious case building for silver prices to hit triple digits and gold to double its current price of around $1,830 an ounce, according to popular market insider Lobo Tiggre. On Tuesday, silver fell 5.3% to $27.44 an ounce after jumping 7.3% on Monday— marking its highest level since 2013.
“The perfect storm for silver is brewing. If there is ongoing economic trouble and copper miners scale back, since most silver comes from copper, we could see all this demand coupled with supply constraints. And if this happens, we would blow away the Hunt Brothers spike, even in inflation adjusted terms,” the Independent Speculator founder tells Daniela Cambone. Silver Thursday was an event that occurred on March 27, 1980, following the attempt by brothers Nelson Bunker Hunt, William Herbert Hunt, and Lamar Hunt to corner the silver market. A subsequent steep fall in silver prices led to panic on commodity and futures exchanges. Video by Stansberry Research.
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