Eric Sprott says Silver will go to it's all time high this year

Eric Sprott the founder of Sprott Asset Management believes that silver is due for an upside move this year. He states that silver will reach it's all time high this year and the catalyst is the bad health of the world economy. He recommends that investors hold precious metals in 2012. Silver is up about 20% this year and according to Mr Sprott will continue rising.

Eric Sprott is a Canadian hedge fund manager and founder of Sprott Asset Management. He became a billionaire on paper with the initial public offering of Sprott Inc., the parent of his Sprott Asset Management firm.

Financial Sense Newshour Interviews Eric Sprott & David Morgan

Eric Sprott is a Canadian hedge fund manager and founder of Sprott Asset Management. He became a billionaire on paper with the initial public offering of Sprott Inc., the parent of his Sprott Asset Management firm.

Eric Sprott Silver

What is happening to gold and silver is stunning. When he is looking at the silver market, in 30 minutes time span we had sellers of 225 million equivalent paper oz of silver, in a market that in one year silver miners can only produce 800 million ozs. So again, it’s paper markets that overwhelm the physical market. It’s stunning to me that on day like Feb 29, the world traded 500 million ozs of silver.
No rational person could believe it had anthing to do with the real market of silver…
Eric Sprott via a recent King World News Interview

Eric Sprott is a Canadian hedge fund manager and founder of Sprott Asset Management. He became a billionaire on paper with the initial public offering of Sprott Inc., the parent of his Sprott Asset Management firm.