Michael Pento - The Forecast For Silver In 2020-2021

 

Michael Pento’s Silver Forecast For 2021

Arcadia Economics, Released on 11/17/20

There’s a lot going on in the financial markets right now, and the well-renowned Michael Pento joined me on the show to share what he’s seeing, how he’s responding to the election from an investment standpoint, and what he sees for gold and silver in 2021.

Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies

The Forecast For Silver In 2020-2021

    This has been a tumultuous year for investors, with Brexit, negative bond yields, a global trade war, an oil price crash and, of course, a worldwide pandemic that’s ushered in what’s expected to be the worst recession since the Great Depression. The question, then, is whether our money can be safely invested anywhere.

    Fortunately, many experts are bullish about precious metals. Although the price of gold has risen roughly $400 per ounce in the past year, some analysts suggest that silver may be the better buy in the medium- and long-term.

    As the CEO and founder of an online alternative investment brokerage, I’m constantly keeping my finger on the pulse of what precious metals experts forecast for the years ahead. In this article, I’ll take a closer look at the silver forecast for 2020 and 2021 to give investors an idea of what they can expect.

How Has Silver Fared So Far In 2020?

    Let’s first assess the recent performance of silver bullion during this time of uncertainty. Although the price of silver has fallen since the outbreak of the novel coronavirus, its value has held considerably well compared to the U.S. stock market. During the worst of the stock sell-off in mid-March, May silver futures dropped $0.48 to roughly $12.34 per ounce, according to kitco.com, while the S&P 500 had fallen 27% year to date on March 18.

Virtually every asset price fell in March due to the “sell what you can” mentality many investors held during this frantic period of uncertainty driven by the coronavirus and an oil price war. However, allocating a portion of your portfolio to silver bullion would have softened the blow caused by the coronavirus sell-off.