Peter Schiff Foresees 'Explosive' Growth in Silver Price

Peter Schiff Recommends Investing in Silver Amid Bullish Market Trends

Economist and gold advocate Peter Schiff has urged investors to buy silver. He shared on social media platform X on Tuesday:

Silver is really strong … An explosive move higher seems likely soon.

Schiff noted that the price of silver is “already up over 40 cents in early morning trading, comfortably back above $31.”

This is not the first instance in which Schiff has fervently encouraged investors to consider purchasing silver alongside gold. On July 3, he wrote on X: “ Gold and silver are poised to break out while bitcoin is poised to break down.” On June 20, he took the opportunity to remind investors that silver is remarkably undervalued at its present level. The gold bug stated:

Remember silver traded as high as $50 in 2011 and in 1980. Soon $50 will be the floor on silver, not the ceiling.

Schiff is not alone in his bullish outlook on silver. Bank of America recently forecasted a bullish trend for silver, anticipating an increase in prices through the latter half of 2024 into 2025. This optimistic outlook is driven by expectations of an end to central bank interest rate hikes and increased investment in precious metals. Peter Krauth, a silver market analyst and author of “The Great Silver Bull,” has predicted an upcoming silver shortage due to increased demand for the precious metal in various applications.

Another prominent silver advocate is Robert Kiyosaki, author of the best-selling book “Rich Dad Poor Dad.” He often recommends gold, silver, and bitcoin. Last August, he urged investors to buy silver before it’s gone. Kiyosaki believes that the price of silver could soar to $60K if the world economy crashes.

What do you think about the predictions for silver’s future? Let us know in the comments section below.