Silver has the potential to do even better than gold if the yellow metal continues to rise, according to Lobo Tiggre of Louis James LLC.
Lobo Tiggre, CEO of Louis James LLC, says that market watchers need to keep an eye on silver as the gold price continues to climb.
Speaking with the Investing News Network at the Sprott Natural Resource Symposium in Vancouver, Tiggre said he believes the yellow metal has broken out of a rut and is on its way up because it is sustaining its higher value.
“I wanted to see US$1,400 (per ounce), and sustained above US$1,400, and that (would) signal a real shift where we’re broken out of the rut, and that is what we’ve seen,” he said.
Gold’s more industrially inclined precious metal comrade, silver, potentially has an even brighter future.
“It’s well known … how silver tends to lag gold. Gold moves first and then silver more than catches up,” Tiggre said. “If gold goes bananas, silver will go bananas — no question in my mind, and it will go more bananas than gold.”
Tiggre’s own unproven theory is that silver goes bananas with more gusto because the conditions that can drive gold upwards can also drive industrial metals like copper downwards, and most of the silver mined in the world is a by-product of copper mining.
“We have that now: copper under pressure, global economic slowdown, people are worried. Copper producers, if they cut back, that massively cuts back the silver supply. And if that happens when silver prices are rising, you can see silver prices really go nuts.”
Watch the full interview above for more of Tiggre’s thoughts on the current commodity and investing environment. Our full playlist for the Sprott event can be found on YouTube.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.