Toronto, Canada, Feb. 19, 2021 (GLOBE NEWSWIRE) — Comparing those numbers to silver supply and demand statistics from the Silver Institute, Marcus believed he doesn’t know anyone who thinks it’s possible for that amount of metal to be added to SLV.
“It hit me last night — the only way that we know if there’s anything in there is based on the word of JPMorgan, who’s the custodian of SLV who just got fined a billion dollars for manipulating … the precious metals — and Treasury markets I might add — hundreds of thousands of times,” he says.
Marcus thus encouraged silver-focused investors to be cautious.
As we noted in our previous post, now is not the time to rush into precious metals investment without first understanding its nuanced landscape. Consulting a reputable gold seller such as Global Bullion Suppliers, who employ experienced precious-metals specialists, can provide investors with detailed information on the options available when seeking to get into silver.
As for projecting where the price of silver may go, Marcus can see it vaulting over $50 to $60 and perhaps even triple digits before coming down again. “That’s what happen when you stuff a beach ball under water for decades while hyperinflating currency at same time.”
He goes on to say his skepticism about markets today are influenced by his past work at bond rating agency Moody’s and seven years as an equity options trader for Susquehanna International Group on the American and New York Stock Exchanges.
“I left Wall Street because I saw how everything could be manipulated, could be undervalued.”
Because of this manipulation and complicated outlook on silver, potential investors would be wise to heed the advice of Max Smirnov, president of GBS: “Now is the time to educate people about bullion because folks are getting into it without knowing what they’re doing. They’re going to lose their shirts if they don’t learn about the market.”
GBS offers free bullion consultation to anyone in Canada interested in learning from the team’s precious-metals specialists. Get all the details about premiums, buying and selling silver and gold, terms, the latest silver news, and much more.
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