Silver is set for a major rally, according to Kootenay Silver CEO, James McDonald, citing a high gold-silver ratio as the reason.
“If you look at the gold-silver ratio, it’s at a historic high, and if it reverts, it will revert at some point, to even the median around 55-60, silver would be over 21 bucks today,” McDonald told Kitco News on the sidelines of the International Mining Investment Conference in Vancouver.
McDonald noted that while silver won’t be reaching triple digits any time soon, the white metal will have a lot of upside leverage when it finally moves.
“I see it going much higher than it is now, just by reverting to that median line,” he said.
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