- $500 Silver & The Real Reason Gold Caught Fire Yesterday!
Today Egon von Greyerz sent King World News a tremendous piece where he discusses the silver price eventually eclipsing a stunning $500, where gold is headed, and why the gold market caught fire yesterday. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, wrote in this KWN exclusive piece.
By Egon von Greyerz Matterhorn Asset Management
July 23 (King World News) – Gold On Fire?
On Sunday it was incorrectly reported that the JP Morgan Gold vault in Broad Street had caught fire. Let me categorically state that even the world’s best pyromaniac would most likely fail burning down a Gold vault. And let me explain why it is virtually impossible….
Silver is likely to outperform Gold substantially. With Gold at $10,000+, silver should be $500+. But remember that silver is extremely volatile and not for the faint-hearted. Also, Gold is money but silver is an investment and an industrial metal. For the end game Gold will probably be safer than silver.
But this is of course a few years away.