The whitish metal will be valued at $150 per troy ounce within 11-plus months, according to Smith McKenna of Hollywood, Florida. But prior to that, the precious metal will notch $75 per troy ounce in the middle of this year. And, within about two-plus months, silver futures will push through the psychological milestone price of $50 per troy ounce.
Stephen Smith, chief executive officer of the advisory, said manufacturing data indicates the global slowdown is set to close while the globe will see a large spike in capital investments. And, he said, within 48 months, demand for the whitish metal will exhaust all above-ground supplies of the precious metal.
At 9:27 a.m. on Tuesday, silver futures fell 0.25 percent, an 8 cent slip to $32.19 per troy ounce.
Should the price of silver pass the $50 per troy ounce threshold Smith cited, that would be 35 cents short of the precious metal's record price. That record high was established in January 1980 when the Hunt brothers attempted to corner the silver market in Texas.
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