Michael Steinmann, CEO of Pan American Silver, attributes record-high gold prices to global de-dollarization and central bank buying. “The fear of all these countries de-dollarizing and all the central banks that are buying gold… that’s really the reason why we see that all-time high gold price happen,” he tells Daniela Cambone at the PDAC conference in Toronto in early March.
Unlike gold, silver’s value is driven by industrial demand, but quality assets are scarce since silver is often tied to base metals and gold. Steinmann also warned of a looming supply deficit, noting that dedicated holders are unlikely to sell even at significantly higher prices.
Watch the full interview to hear Steinmann’s insights on the future of silver and the shifting dynamics of precious metals
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47 Comments
This guy sounds funny. 😂
There may be a hiccup – eventually – but I’m watching – Franco Nevada…
I'm not an expert, but I think it's extremely necessary to explain this much-talked-about fall and collapse of paper gold, citing ETFs (GLD). Well, they are backed by physical gold and are contractually not allowed to lend it. Isn't this paper gold system that they refer to precisely the futures markets? Those purchases that they repurchase so as to never receive physical gold, just to suppress its price? (naked short sellings).
Why would the monetary policy of the United States be based around what you need for your portfolio?
Central banks are buying like Mad not because of Tariffs but because we will soon see a Global Death spiral of FIAT CURRENCY . THINK ABOUT IT… When you have Trade wars and Tariff WARS Like This Countries will soon STOP Taking other countries currencies . Why would they want PAPER CRAP For real Goods when all you need to do is Print more Toilet paper ? Debt levels are so Massive that the Interest rate has to be pushed lower because its Killing the GDP .. And to make it WORSE Is the world is going into a Depression … Already in a Recession… Real Money Gold and silver is only going to go Higher.. Oh And then we have the Paper game breaking apart.. Just watch what it cost those banks that hold the huge short position in Silver…
👍💐
That was a whole lot of nothing .
In Lucifer's system of slavery.
I trust only on God and my gold
Hold your gold!
We were making money at $1750. We are going to let you have a guess at what we are making at $3043.
Fear of de-dollarization of the US$ is causing funds to buy gold as protection.
silver to watch, for a surprise
I’ll let my silver go at $300 oz
I don’t care what the price is…all I’m interested in is the gold to silver ratio. I don’t count my wealth in $dollars….i count it in kilos.
If de-dollarization of the US$ really happens it may cause a financial crisis. BRICS is trying to engineer a de-dollarization of the US$.
Why do they want you to buy gold? YouTube is flooded with gold pumpers. I think it could be topping out.
Sorry couldn’t get through this 2 min in and 2 “WOWS” from Daniela….ohhh boy ☹WOW
Who?
Dollar had its value as the global currency thanks to the "Petro dollar" deal in the 70s .. but now being Gold the millennium metal together with the Silver keeping its intrinsic value against fiat currencies that world Government issues. Gold should hit $5,000 – $7,000 by end of 2025!
Buy PHYSICAL Gold and Silver, if you don't hold it you don't own it!!!
Great reporting! Thank you!
If you measure ounces of gold to buy a house in 1940 or a car…we are getting close. Better now for a barrel of oil
I wonder how many countries are plotting against America at this conference. Every country hates Americans
Gold hits $US6800 in 2 years. Take a look at 1970 – 1980 gold prices….and the money printing and inflation at that time…. and try and tell me that I'm wrong the this time. History "repeats"… and apparently the government is doing the same thing they've done before.
I bought a lot year ago, it sad that we need to even be visiting this. Politicians , elitist. They cant just do the right thing for the people. They all have to make millions off the public with policy and scams.
Silver metal Global Short Squeeze this Friday 3/21/25
Any Ozzie miners present ?
Thanks
I'm taking 7 grams to my deathbed, yes, yes, yes, yes, yes.
Mike Maloney, Eric Sprott etc are all pointing towards silvers true current value at $350 – $500…. Its going to be interesting and exciting at the same time.
Copper to Silver Mined ratio is 1,020:1 (& Copper, an industrial metal, is 9X more expensive than Silver taking such comparison to relative price).
Mined Silver to Gold ratio is under 7:1 (& Gold, a Precious metal, is 13X more expensive than Silver – with 'Price Ratio' currently @ over 90:1 !!)
LME is running out of 'cheap' Silver (mostly mined as a byproduct of Gold, Copper as well as Lead/zinc) & with Silver in a Mined Deficit (greater Demand than Supply since 2021 – like never before !!) .. Silver has the greatest 'POTENTIAL' over any other 'Asset', let alone any other 'Metal' !!
The collapse can't be stopped…
The equities want to rise..
In 2011, Utah became the first state to recognize gold and silver as legal tender. Now, an electronic payment system will create more flexibility by fractionalizing physical silver and gold.
Tuesday, the state legislature passed a bill allowing government vendors to choose to be paid in gold and silver for the first time in America.
Daniela’s boots are the cats meow!!
The Eurasian world is determined to put an end to the dollar without tangible and militarized value. If the USA still wants to save its currency, it has an interest in massively revaluing the price of physical gold and quickly reestablishing the gold standard in order to give credibility to the dollar in international trade. Today, with 36.5 trillion US debt, the dollar paper currency is dead !
This guy's a simp and one of the reasons mining companies do nothing about the manipulation.
As Forecast here by Michael .. LME will soon have a shortage of Silver .. but plenty of Silver remains above ground owned by the 'Silver Bugs' or as most of us folk prefer .. by the 'Silver Stacker' community .. So the BIG question is: At what price are you willing to Sell .. 'All Your Silver' .. to 'meet future demand': @ $35, $40, $50 ?? .. Or do you .. Continue to stack until the Silver to Gold ratio HITS .. 40:1, 30:1 (or even lower ??)
Bitcoin is just an IOU from the ledger.
I bought 7 ounces at $2550 Canadian, I’m super happy. $4,336 Canadian currently
Daniela:You're right like always¡¡If you think that COMEX(CME) is trading 27.000.000 OZ AU day by day ,global economy is under biggest pressure¡¡Ther's too much uncertainty in global markets¡¡Trumponomics ¡¡
First time in a long time gold up 50% , silver going down, only a matter of time when silver will be purchased from Banks.
No silver forecast!!!
War is whats coming so that is the prime reason with movements with gold.
Excellent Daniela-Thank you! Where’s John Doody?
Brilliant discussion. Thanks.
GLOBAL SILVER SQUEEZE FRIDAY 03/21. Spread the word please