Silver Price | John Embry Sees An Explosion

Silver has been a very interesting commodity to watch throughout the year so far, and for good reason. The commodity has gained tremendously throughout the year. While there are plenty that say we're reaching the top, and declines are coming. There are also plenty of experts that see big gains in silver ahead. In fact, John Embry believes that the price of the precious metal could explode in the near future. Today, we'll talk about why he believes that silver has such an upside potential and what we can expect to see from the precious metal moving forward.

Embry Sees Silver Trading At “Many Multiples” Of The Current Price

Before we get into what Embry believes, it's important that you understand who this guy is. John Embry is the chief investment strategist at Sprott Asset Management and Sprott Gold and Precious Minerals Fund. He currently has more than 50 years of experience in the investing industry, and he's considered to be one of the world's foremost financial experts.

With all of that said, in a recent interview, Embry made it clear that he believes silver could climb in a big way soon. First and foremost, he made a point that the stock market in the United States is back up to near record highs. While many look at this as a good thing, he sees it as a disaster waiting to happen. The truth is that interest rates around the world are at depression levels in most industrialized countries. That includes the United States. Ultimately, Embry believes that the bubble will eventually burst, and hyperinflation could occur. If this happens, silver could climb dramatically as consumers, investors, businesses, and even governments purchase the metal as a way to protect their assets. Here's one of the most important snippets out of Embry's recent statement...

“The absolutely spectacular performance of silver mining equities so far this year tells the real story. I firmly believe we are on the cusp of an explosion in the silver price that will ultimately see silver trade at many multiples of the current $20 price. And if the hyperinflation occurs, which I believe is inevitable due to the current global monetary policy, who knows how high the price can go?”

Is The Bar Being Set Too High Here

We are in interesting times for silver. Recently, we've been seeing estimates that silver could double in value or more. $50 per ounce silver seems to be the going projection. Many believe that it could climb far higher. However, are these projections out of reach? Are we setting ourselves up for failure?

I believe that they're actually hitting the nail on the head. The truth is that if you look back to September of last year, $20 plus silver ounces seemed out of the question. However, current economic conditions are proving to be concerning. Unfortunately, central banks continue to make the same mistakes with monetary policy, and it doesn't seem as though economic conditions are going to improve any time soon.

Considering this, I see a tremendous upside for safe havens as a whole. Gold and silver will likely climb in a big way moving forward. While I hate to say it, I don't see the market staying at these inflated rates for much longer. As central banks continue to weaken economies, we're going to see a global affect in the market that will make January look like a cake walk! At the end of the day, considering current economic and market conditions, silver is likely to explode!

What Do You Think?

Where do you think the price of silver is headed and why? Join the discussion in the comments below!  

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