Silver could hit $200 an ounce by 2023
Silver could climb up to $200 an ounce in the next decade, predicted a Western Australian miner.
Silver could climb up to $200 an ounce in the next decade, predicted a Western Australian miner.
The prediction, made at last week's Mines and Money conference in Hong Kong, would mean a sixfold price increase for the precious metal.
But Morrie Goodz, from silver miner MacPhersons, says demand for the metal is strong.
He says silver is now the preferred metal for micro-electronics and demand from the medical and jewellery fields is strong as well.
"There is no doubt people in Asia are attracted to precious metals, and in particular silver and gold, and when the marketplace and in particular Asia right now are looking at precious metals, a lot of people believe silver has more upside than gold," he said.
"And it certainly has, over the last couple of years, outperformed gold in a percentage growth basis." Eric Sprott predicts silver price to rise to $200oz;
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