Wednesday, July 20, 2011

Peter Schiff: Silver to Trade Over $200

Yesterday we reported that John Embry is calling for silver to reach triple digits before this thing is over (and also stated our beliefs for much higher silver prices long term). 
Today, Peter Schiff gave another triple digit call for silver, stating that silver north of $200 makes alot of sense.
Schiff also points out that the DOW is lower today priced in gold than it was in the March 2009 lows near 6,500!
“We held some key lows, especially in silver where silver held up and never got down to $30.  That used to be the resistance before it broke up and moved up to $50.  $50 is now the over head resistance and we will take that out before the end of the year.  Who knows how much higher gold is going to be by then.  I think eventually silver north of $200 with gold over $5,000 makes a lot of sense.
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