Eric Sprott takes Sinclair's $12,000 target for gold ($12,250), combines it with his own 10:1 silver/gold ratio target, and comes up with a long term target for silver of $1,200, a 30 bagger from current levels, and a 300 bagger for those who like The Doc, entered silver near the bottom a decade ago.
The Doc is not as conservative as Mr. Sprott, and looks for silver to overshoot to a 5:1 silver gold ratio at a minimum, and possibly temporarily ABOVE 1:1.
Do your own math.
As you know there are groups that are short silver and they’ve lost a lot of money already. I think they are very active in the market and create these days where there are sudden downdrafts, but sure enough silver always comes back. The physical buyers always wear down the paper pushers.I think silver will outperform gold in the next decade. If silver should trade at a 16 to 1 ratio (to gold), it will probably trade at 10 to 1 because things tend to overshoot. Let’s use Jim Sinclair’s $12,000 target, that would suggest $1,200 silver, which is a thirty bagger from here...The biggest reason it (silver) should go there is people should fear bank deposits, that’s what I think they should fear.