Kitco analyst David Lin hosted Peter Hug on his show today, asking about his thoughts on the Silver price.

 

 

Recently, it has been observed that there is a liveliness in the price of Silver in parallel with the stagnant course of the Gold price. Many people wonder if the price of silver will break the all-time record.

Commenting on this issue, Hug’s views are as follows:

Silver Prices

Circulating on Reddit shows that there is a plan to raise the precious metal price for never-before-seen prices.

As a result, silver saw price action yesterday, and stocks of precious metal rose in response.

Kitco analyst David Lin hosted Peter Hug on his show today, asking about his thoughts on the Silver price.
Ultimately, “increasing the silver to $ 1,000 is practically impossible to do,” says Peter Hug, Global Trade Director of Kitco Metals.

Hug “[Reddit users] have stated that they are trying to short squeeze the precious metal. It is much more difficult to do [than with GameStop] because we are talking about the big global banks in the market here. Metals will trade on the basis of supply and demand, although the market for precious metal-focused investment products is tight, this will be the case. Hug, 1000-ounce large bars have an abundant supply. so there is no big shortage of bars in the market, ”he says.

Hug said the fundamentals of the market are still on the silver side in a medium and long term perspective, and the precious metal price is still below its value at these levels even after yesterday’s rise.

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